Business Asia articles from April 1999

Business Asia archives from April 1999

Export cloud lifting in Asia.
April 5, 1999... ... but warning of correction on Wall Street India, South Korea and the wine industry are shaping as bright export markets for Australian companies as Asia's economic meltdown begins to bottom out, says Australia's Deputy Prime Minister, Mr...

Sabah polls a fillip for Mahathir.(Sabah, Malaysia, Prime Minister Mahathir Mohamed)
April 5, 1999... A strong performance by the National Front in the important Sabah elections has shored up support for Malaysian Prime Minister Mahathir Mohamed. GANESH SAHATHEVAN(*) comments Malaysian Prime Minister Dr Mahathir Mohamed has scored an...

Reduction in travel as firms get tough.(Polling Data)(Statistical Data Included)
April 5, 1999... Australians are the least likely to travel first-class, Malaysians are the most likely to opt for five-star hotels and Singaporeans are fondest of personal charge cards for business use. A new survey of Asia-Pacific business travel...

MAILBAG.
April 5, 1999... Be positive, please Dear Editor, With regards to your coverage of South East Asian leaders (March 1, 1999) by Maurice Daly, we must be living on different planets! This type of negative reporting is why prime ministers like Dr...

ASIA FACT FILE.(Statistical Data Included)
April 5, 1999... Balancing act This edition's Fact File tracks the current account balances is Asia-Pacific nations over the past three years. All figures are in US$ billions. AUSTRALIA 1997 -12.5 1998 -18.4 1999 ...

Trade forum the real deal.(Singapore Australia Business Alliance Forum)
April 5, 1999... The new board of the Singapore Australia Business Alliance Forum (SABAF) hopes to cement a tangible commercial deal by the end of the year in its bid to assist business in the region. The co-chairman of SABAF, Mr Maurice Newman, said the...

Howard a special guest at '99 export awards.(John Howard, Australian Prime Minister)
April 5, 1999... Australian Prime Minister Mr John Howard will be the keynote speaker at the 1999 Australian Export Awards presentation dinner in December. The Prime Minister's attendance adds to the lustre of this year's gala dinner, which will be held on...

New `miracle' still possible.(Asian economies, World Bank)
April 5, 1999... Asian economies can achieve "miracle" status again but must ensure their reform efforts are not derailed by complacency, the World Bank claims. Mr Jean-Michel Severino, World Bank vice-president for East Asia and the Pacific, said signs of...

Report urges smarter use of elite staff.
April 5, 1999... Companies must reform their business management to better utilise their employees' intellectual potential and innovation if they are to achieve maximum competitive advantage, according to a new report. Entitled "Knowledge workers revealed:...

Region tunes in to pay-TV.(Asia-Pacific)
April 5, 1999... A new report predicts that by the end of 2003, the Asia-Pacific region (excluding China) will have 39 million pay-TV subscribers -- up from 26 million now. The Datamonitor report, "Set-top box markets in Asia-Pacific, 1998-2003", suggests...

China woos banks to aid WTO entry.
April 5, 1999... China is likely to open its market more to foreign banks this year in a bid to join the World Trade Organisation (WTO). The bankers said China planned to approve more branch licences and grant permission to more foreign banks to conduct...

Manager for All Seasons on target.(Thakral Holdings hotels)
April 5, 1999... A 6.4 per cent net rise in half-year earnings shows hotel operator Thakral Holdings is not resting on its queen-size laurels. One of Australia's largest hotel owners, with 2500 rooms, Thakral Holdings also manages 3600 rooms under the All...

Airline plays the Games.(Malaysia Airlines services to Australia for 2000 Olympic Games)
April 5, 1999... Malaysia Airlines has ensured it is in the race to cash in on 2000 Olympic Games gold by boosting services to Australia. The fourth-largest international airline operating in Australia, Malaysia Airlines has increased flight numbers out of...

Quality wins over quantity at Stamford.(Stamford Hotels and Resorts)
April 5, 1999... A shipping company is proving that big is not necessarily better when it comes to the bedroom. Stamford Hotels and Resorts, owned by the Singapore-based Hai Sun Hup, will open only its seventh hotel at the end of this year. However,...

Votes pour in.
April 5, 1999... Hundreds of responses have been lodged by readers in early voting for the 1999 Business Asia News Magazine Awards. Readers are encouraged to nominate their preferred finalists by filling in the coupon that appears on page 5. The coupon...

Singapore Airlines to buy half of Ansett.
April 5, 1999... Asian carrier Singapore Airlines (SIA) will buy a 50 per cent stake in Australia's second major airline, Ansett Australia, from Rupert Murdoch's News Corp. News Ltd, the Australian arm of News Corp, said Singapore Airlines would pay A$500...

IMF lets Bangkok pump $1b into ailing economy.
April 5, 1999... Thailand, reeling from its worst recession in a generation, will pump an extra 53 billion baht (US$1.4 billion) into the economy through increased government spending and possibly double that amount with tax cuts. In its latest agreement...

Bankruptcy law passes initial test.(Thailand)
April 5, 1999... Thailand's maligned bankruptcy law, recently amended under the suggestion of the International Monetary Fund (IMF), has stood its first test with the approval of a business reorganisation plan for Alphatec Electronics by the Civil Court of...

Thailand's reform path strewn with potholes.
April 5, 1999... The Thai Government has won praise from Western analysts for earnestly tackling its economic problems, but the pace of change is still unsatisfactory. Thailand's bid for economic recovery has proven a far more wrenching and drawn-out...

Baht lift unlikely for Thai firms in '99.
April 5, 1999... Heavily indebted Thai companies should not expect another windfall from the country's currency this year as analysts expect the baht to remain steady after strengthening during 1998. The rally in the country's currency has run out of steam...

In brief.
April 5, 1999... * Bangkok -- Thailand should issue sovereign foreign currency-denominated bonds to raise the billions of dollars it needs to recapitalise banks in the wake of its economic crisis, analysts say. The Bank of Thailand's Financial Institutions...

US on hold in China's mobile war.
April 5, 1999... A monopoly on mobile phone services in China by European companies could be under threat as the United States makes a move for the mainland. After storming to a commanding lead in China, European mobile phone companies such as Ericsson and...

WorldxChange targets lucrative Asian market.
April 5, 1999... As part of a continually aggressive expansion push into the Asia-Pacific region, WorldxChange Communications has been promoting its lowest rates yet to China and Hong Kong. In a campaign that has just ended, the lower rates applied for 24...

Zhu proffers telecom deal.(China)
April 5, 1999... China is offering foreign firms a 35 per cent stake in now off-limits telecommunications businesses in an effort to secure membership in the World Trade Organisation, analysts say. However, foreign telecommunications executives said the...

Australia answers the call.
April 5, 1999... Australia is fast becoming a magnet for global companies wanting to service customers in the Asia-Pacific region, according to Telstra. Telstra Regional Business Centres national general manager, Ms Mara Moustafine, said a recent survey of...

Bug problem a global risk.
April 5, 1999... The Year 2000 computer bug phenomenon is no longer just a technical problem but a risk management issue, according to experts at the 2nd Global Y2K Summit in Manila At the recent two-day summit, keynote speaker Mr John Koskinen, who heads...

Hong Kong banks top poll.
April 5, 1999... Expatriate business people rate Hong Kong's banking community the most market-friendly in Asia, followed by Singapore and the Philippines, according to a regional survey by a Hong Kong-based think-tank. The survey by the Political and...

The case of the shrinking bond.
April 5, 1999... Returns from sovereign bonds in Asia may not justify the inherent risk involved. A rapid contraction of Asian sovereign bond spreads in the last six months is not justified considering the risk factors still affecting the region, analysts...

Taiwan `ripe' for advent of options trade.
April 5, 1999... Taiwan's relative financial stability and big stock market make the island ripe for trading of options, a Chicago Board Options Exchange senior executive claims. What remains to be done is to educate investors and brokers about the...

Crisis puts heat on EFIC.(Australian Export Finance Insurance Corp.)
April 5, 1999... Exposure to Asia's financial crisis, especially in Indonesia, has put pressure on the profit line of Australia's main underwriter of exports. The Australian Export Finance Insurance Corporation (EFIC) reported a loss in 1998 -- its first...

Risk control a vital `tool'.
April 5, 1999... Kuala Lumpur -- Better and effective business management can be achieved by careful planning and "immersing ourselves in the facets of risk management", according to a key Malaysian Minister. Deputy International Trade and Industry Minister...

Firms seek new ways to counter exposure.
April 5, 1999... Singapore -- The demand for more stringent standards of transparency and corporate governance in crisis-hit Asian firms will drive innovation in insurance risk management techniques, an industry executive says. "Corporate governance is...

Onus on investors in Asia to get own house in order.
April 5, 1999... Many investors have been burned by Asia's emerging markets -- viewed as a constant source of opportunity. PAUL SCULLY(*) says investors deserve some of the blame Risk should always be taken seriously, but especially so in emerging markets...

Insurers see few benefits in WTO pact.
April 5, 1999... Asia's insurers woke up to a newly liberalised marketplace last month, but the symbolic milestone of World Trade Organisation (WTO) financial services freedoms brings no practical change, experts say. A WTO deal hammered out in December...

Korea plays to win in Asia.(international conference center)
April 5, 1999... With the Asia-Europe Meeting to be held in Korea in 2000 and the FIFA World Cup in 2002, Korea is fast becoming a major player in the world convention industry. Supported by excellent meeting facilities and services, Korea has steadily...

One-stop shop gives Melbourne the edge.(convention facilities)
April 5, 1999... The Melbourne Exhibition and Convention Centre and some of the city's leading hotels have embarked on an initiative to turn Melbourne into the hub of the corporate meeting market. Launched in October 1998, Conference Extensions Melbourne...

Making a mark on history.(Hong Kong Convention and Exhibition Centre)
April 5, 1999... The Hong Kong Convention and Exhibition Centre is disproving the theory that it's lonely at the top. Having last month been awarded -- for the sixth consecutive year -- the Meetings and Incentive Travel Industry Award for the Best Overseas...

Changi facility gives the edge to Singapore.(convention facilities)
April 5, 1999... Singapore is arguably the conventions hub of the Asia-Pacific region, but cities such as Hong Kong and Sydney are hard on its heels. Singapore's claim to being Asia's top conference and exhibitions destination will be strengthened by the...

Numbers up in Singapore.(Singapore International Exhibition and Convention Centre)
April 5, 1999... The Singapore International Exhibition and Convention Centre (SICEC) shrugged off the effects of the region's economic downturn by sustaining a 66 per cent occupancy rate last year. A total of 706 events were held at the centre in 1998....

Consumers regain hope, survey finds.(consumer confidence in Asia)
April 5, 1999... Consumers' confidence in the region, especially in Malaysia, has recovered dramatically in the second half of 1998, according to MasterCard International. A twice-yearly survey by MasterCard of consumer confidence in 13 countries and...

A capital idea from Shanghai.(includes other items)
April 5, 1999... * In a move to attract foreign capital, Shanghai will soon unveil a new policy to allow more private firms to set up joint ventures with overseas investors. A senior official of the Shanghai Municipal Overseas Investment Commission said most of...

Hot US stocks aid Taiwan.
April 5, 1999... As the Dow flirts with 10,000, Wall Street may be getting a bit too hot for some investors -- and Taiwan stock investors aren't complaining. A conspicuous risk-hedging reallocation of United States money into Taiwan has helped drive the...

Everyone's a winner.(potential for Asian software centers)
April 5, 1999... Hong Kong -- Microsoft chairman Mr Bill Gates believes there is room for Hong Kong, Singapore and Malaysia all to become Asian software centres, despite their competition to attract high-technology businesses. Hit by the Asian financial...

Howard, Goh must take lead.(South East Asia economics)
April 5, 1999... Strong leadership by John Howard and Goh Chok Tong is crucial to South East Asia's economic recovery -- and peace in the region. Australian Prime Minister John Howard and his Singapore counterpart Goh Chok Tong have clearly become the two...

China starts private push to lure more foreign cash.
April 5, 1999... China's recent official endorsement of private enterprise is profoundly important, setting the stage for deregulation, structural change and fresh foreign interest in its potentially huge market, according to analysts. "We cannot expect...

US, China seal tariff pact.
April 19, 1999... Farm exports stand to gain in long term Australian exporters stand to benefit from a historic trade pact sealed between Beijing and Washington during Chinese Premier Zhu Rongji's visit to the United States last week. While Mr Zhu's...

American Express charges ahead in Asia.
April 19, 1999... Charge card giant American Express hopes to expand its presence in Asia by formalising ties with the strongest financial institutions among the region's ailing banks. Mr Jim Cracchiolo, president of the company's international...

Inflation on the hop in Year of Rabbit.(1999 disinflation)(Statistical Data Included)
April 19, 1999... In the Chinese Year of the Rabbit, inflation across Asia is on the run. March inflation data out from several Asian countries, the first since the Lunar New Year began on February 16, shows that far from expanding rapidly, prices are...

In brief.
April 19, 1999... Hong Kong - The credit quality of electric power utilities in Asia could deteriorate further in the wake of the region's economic slowdown, a new report has found. Standard and Poor's Asia-Pacific Electric Power Survey said declining growth in...

ASIA FACT FILE.
April 19, 1999... Take a holiday This edition's Fact File lists the independence days and main national holidays in Asia-Pacific nations AUSTRALIA Independence: January 1, 1901 National holiday: January 26 ...

Pork crisis to aid exports.
April 19, 1999... Australian producers in demand Malaysia's crippling pork crisis is expected to have positive long-term effects for Australia, with massive increases in pork exports to Singapore tipped to stay at high levels long after the crisis is...

Asia needs 'green' recovery: ADB.(Asian Development Bank)
April 19, 1999... Asia's long-term prosperity hinges on how it overcomes environmental and social problems that rank among the worst in history, the Asian Development Bank (ADB) claims. Asia is the world's most polluted and environmentally degraded region,...

Doors to Seoul may soon shut, official warns.(South Korea)
April 19, 1999... Foreign investors have been urged to gain a foothold now in unusually liberal South Korean markets or risk missing the boat. South Korean President Kim Dae Jung's government has encouraged foreign investment in the past year to boost the...

Pension funds turn to South Korea.
April 19, 1999... Major United States pension funds are eager to examine new investment prospects in South Korea, a US investment conference group says. "The interest level is very high," said Mr Philip Schaefer, president of San Franciscobased Pensions...

HK rate cut likely to lift economy.(Hong Kong)
April 19, 1999... Hong Kong banks have cut their prime lending rates by a quarter of a point in a widely anticipated move that is expected to give the economy a much-needed lift, though not a substantial boost. "The rate cut can reduce debt burdens of...

E-commerce boom in Japan.
April 19, 1999... Electronic commerce will be worth more than 70 trillion yen (US$579 billion)in Japan by 2003, the Ministry of International Trade and Industry (MITI) says. MITI said corporate transactions via the Internet were set to rise eight-fold and...

Customers queue up for database solution.
April 19, 1999... Data searches in Hong Kong have become a whole lot easier thanks to the ingenuity of a Sydney-based company. RNR International Marketing, a database marketing agency, was enlisted by the Hong Kong Government's Companies Registry three...

Britax keen to reflect on good mirror sales.
April 19, 1999... A South Australian company is providing a mirror to the world -- literally -- for motor vehicle producers. Britax Rainsfords, a manufacturer of passenger vehicle exterior mirrors, predicts its export sales to Japan will exceed A$10 million...

Rectifier finds telecom niche in the region.
April 19, 1999... A Victorian-based company has carved a niche for itself in the highly competitive Asian telecommunications market by providing manufacturing licences for Australian technology. Rectifier Technologies Pacific specialises in the design of...

Laservision puts on a show.
April 19, 1999... Sydney-based attraction developer Laservision Macro-Media is a show off - and proud of it. Perhaps best known for Sydney's Olympic bid laser display on the Opera House, the company has pioneered the laser display and promotions industry in...

ECS fossicks for new deals.
April 19, 1999... Expansion into diverse world markets has led to a surge in exports for mining systems provider, ECS International. ECS recorded export growth of 16 per cent in 1997-98, and overseas markets now represent about one-third of the company's...

ABC news presenter to host '99 awards.
April 19, 1999... ABC Television news reader Lexy Hamilton-Smith is the new master of ceremonies for the 1999 Business Asia News Magazine Awards. With 20 years' experience in electronic and print media, Ms Hamilton-Smith is a highly respected figure in the...

Bilingual software a hit for Systemik.
April 19, 1999... Technology allowing English and Chinese versions of documents to be displayed simultaneously on electronic systems has proved a hit in Hong Kong for Systemik Solutions. The Sydney-based software development and consulting group has...

Insurance doors still shut.
April 19, 1999... Analysts are scoffing at suggestions that Beijing will open the floodgates and allow widespread foreign access to its massive insurance market. The doors to China's coveted insurance industry creaked open a fraction recently, but the...

Shanghai may open duty-free to foreign firms.
April 19, 1999... China is preparing to open the duty-free business at Shanghai's Pudong Airport to international bidding on a trial basis, the official Xinhua news agency claims. The agency quoted State Councillor Madame Wu Yi as making the statement in...

Investors pick up new China deals.
April 19, 1999... Now is one of the best times to do business in China, with foreign investors enjoying the most positive business environment in years, a leading investment advisory group says. Allens Arthur Robinson (AAR) Group chief representative in...

Zhu takes aim at NATO strikes.(Zhu Rongji)
April 19, 1999... China and the United States are at loggerheads over human rights issues and air strikes on Yugoslavia. At the heart of the debate is China's treatment of Tibet Chinese Premier Zhu Rongji has said China is opposed to NATO air strikes on...

Australia urges calm in East Timor.
April 19, 1999... Australia has urged East Timor's people to reject a call to arms by jailed guerrilla leader Mr Xanana Gusmao, saying all parties should disarm to achieve a peaceful settlement in the troubled Indonesian province. The Australian...

Hawker targets Asia for expansion.
April 19, 1999... Asia will be the focus of a concerted new market expansion by Hawker Pacific after the company was awarded a prestigious Lockheed Martin accreditation. The Sydney-based company gained a P-3 Service Centre Accreditation by Lockheed Martin...

Missile deal proves elusive.
April 19, 1999... A deal with North Korea to contain an advanced missile program in one of the most unpredictable countries on the planet looks as elusive as ever after the latest round of talks. United States Deputy Assistant Secretary of State Mr Robert...

Singapore MPs query spending on defence.(members of parliament)
April 19, 1999... Singapore's plans to allot a quarter of next year's budgetary spending to defence may send the wrong message to its Asian neighbours, lawmakers claim. The city-state has earmarked S$7.27 billion (US$4.2 billion) for defence in its...

ASIA'S TOP 200 CORPORATES.(Statistical Data Included)
April 19, 1999... `Safe' nations lead the way on Top 200 list Japanese firms still rule the roost in Asia, but the Top 200 standings in the rest of Asia indicate that the region's economic crisis has taken its toll on volatile South East Asian conglomerates...

Inflation rates offer some hope.
April 19, 1999... Business Asia presents the second of a two-part series forecasting likely economic and political scenarios for the Asia-Pacific region in 1999 Recovery in Asia is being held back by external demand and banking-sector problems. Lower...

ASIA A NEW ERA DAWNS.
April 19, 1999... JAPAN Just do it REFORMS: A move to a funded deposit insurance scheme should allow major bank reforms to proceed. De-facto nationalisation of banks. WHERE TO INVEST: Like most Asian nations, the financial sector provides the best...

Japan must act now to fix woes.
April 19, 1999... No economy is more vital to Asia than Japan. Sumitomo(*) researchers assess Tokyo's prospects The Japanese economy has to grapple with structural adjustments in 1999 involving overcapacity and the overhang of non-performing loans at banks....

Ignore Korea at your peril.
April 19, 1999... The doors to South Korea's parochial markets are being prised open To write off South Korea is to neglect lucrative business prospects. Immediate opportunities for Australian businesses in South Korea exist in information technology,...

WTO offers gains, pain for China.
April 19, 1999... Recent strong signs of progress in China's bid to join the World Trade Organisation (WTO) have raised hopes of significantly better access for foreign businesses to the Chinese market. Recent events have fuelled speculation the time is ripe...

World Bank slices growth prediction.(Statistical Data Included)
April 19, 1999... The World Bank has slashed its 1999 growth forecast for developing countries by almost half from just five months ago. It has projected that poorer nations will see their slowest expansion in 17 years because of sluggish trade, weak...

Closures for chip firms.
April 19, 1999... Asia's microchip makers, still saddled with excess capacity, face more months of mergers and consolidation even as they claw their way ever faster up the technology curve, experts claim. In the market for dynamic random-access memory chips,...

Poll jitters hit Indonesian investment.
April 19, 1999... Indonesia has reported a collapse in foreign investment approvals, a heavy economic blow blamed on fears of growing violence in the run-up to elections. Investment Minister Mr Hamzah Haz said foreign investment approvals between January 1...

India offers new carrot for overseas investors.
April 19, 1999... India offers new carrot for overseas investors The Indian Government has further liberalised its foreign investment regime by allowing companies to pump in more overseas investment without its prior approval. The proviso is that the...

Zhu takes the points in US.
April 19, 1999... A lot of political and historical baggage has prevented China's entry into the World Trade Organisation. However, it seems America has swung towards supporting Beijing's admission into the trade group. DAVID DeROSA(*) comments Chinese...

Indonesian bank reforms on track, says World Bank.
April 19, 1999... Indonesia is on track to reform its banking system following the announcement of sweeping measures to clean up the sector, a source at the World Bank claims. "It's a huge task. My sense is so far they are, broadly speaking, on track," said...