Business Asia articles from February 2000

Business Asia archives from February 2000

ASIA FACT FILE.(Brief Article)
February 11, 2000... Taxing matters In this week's Fact File, we look ar Asia-Pacific countries' corporate tax rates and income tax rates. AUSTRALIA Corporate tax 36% Income tax 47% CHINA Corporate tax 30% Income tax 45% ...

Badawi in UMNO hot seat.(Brief Article)
February 11, 2000... What Malaysian Prime Minister Mahathir Mohamed wants, he usually gets. But there are signs that his once-unquestioned rule could be challenged as the nation -- and the United Malays National Organisation (UMNO), the dominant party in...

Cashed-up Filipinos feast on fast food.(Brief Article)
February 11, 2000... The 307 billion peso (US$7.6 billion) Philippines foodservice market will grow faster than the nation's economy in the next two years -- providing opportunities for foreign suppliers. A new study, "Food-service in the Philippines...

Surveys find CEOs upbeat about Asia.(Brief Article)
February 11, 2000... The world's top business leaders are upbeat about Asia's growth prospects, with two separate studies finding chief executives are expecting big things for the region this year. PricewaterhouseCoopers' (PwC) 2000 Global CEO Survey of 1020...

Free access to Internet now in Asia.(Brief Article)
February 11, 2000... Free access to Internet services, including e-mail and Web portal services, has arrived in Asian homes. A strategic alliance has been established between Freei. Net and SingNet, the Internet service provider (ISP) arm of Singapore Telecom...

China hits 'Net with secrecy rules.(Brief Article)
February 11, 2000... China has clamped new controls on the Internet to stop web sites "leaking state secrets" and an official newspaper claims curbs on news content are on the way. Under rules published in the People's Daily, web sites are required to undergo...

Banking stalemate stalls `cheap' hotel buys.(Brief Article)
February 11, 2000... Expected hotel property bargains in Asia have failed to materialise because of the failure of inefficient banks to pressure hotel owners to sell off assets, according to an industry expert. Robert Stiles, Sonnenblick-Goldman's managing...

Bullish business back on HK menu.(Brief Article)
February 11, 2000... CMG Asia's Garry Bennett is having trouble getting a seat at restaurants in Hong Kong -- and he couldn't be happier. JOE PARKES reports from Hong Kong on signs of recovery and plans for expansion Garry Bennett, the Colonial Mutual Group's...

Companies eye CDMA tender.(Brief Article)
February 11, 2000... Korean mobile phone makers are confident of being included on a list of prime candidates for the first major project to commercialise CDMA wireless technology in China. The China United Telecommunications Corp. (China Unicom) received...

South Korea -- a country report: In brief.(Brief Article)
February 11, 2000... * South Korea's GDP rebounded 10.2 per cent last year from negative 5.8 per cent growth in 1998, according to preliminary estimates. The Finance and Economy Ministry said factors that helped economic growth surpass the 8 to 9 per cent range as...

Locals bid to buy Daewoo.(Brief Article)
February 11, 2000... South Korea's auto workers, fearing disaster if foreigners buy Daewoo Motor and shop for parts abroad, have stepped up a campaign to thwart such a sale, while a domestic small business group said it might make a bid. The Korea Federation...

Cyber trading on the cards.(Brief Article)
February 11, 2000... Electronic cash is about to make its debut in South Korea. The government has announced that Korea-Cash will be available on a limited scale starting in March. Initially, K-Cash will be used at convenience stores, restaurants, subways,...

Home users targeted by E*Trade.(Brief Article)
February 11, 2000... On-line brokerage E*Trade Korea, set to start operations this month, aims at 10 billion won (US$8.81 million) in revenue and 60,000 investor accounts in its first year of operation, its president says. "We aim to post 10 billion won in...

Expo fosters ties with Asia.(Brief Article)
February 11, 2000... Darwin's enhanced role in the region through its diplomatic aid for East Timor will again ensure that Asia is a focal point of the NT Expo this year, according to the event's general manager Vicky Spence. Regarded as Australia's...

New port to open soon.(Brief Article)
February 11, 2000... The long-awaited new port facility in Darwin is scheduled to open this month, providing another boost for the Territory's export future. The Northern Territory's Minister for Ports, Mick Palmer, said Stage i of the East Arm Port project...

NT economy to rise over next 5 years.(Brief Article)
February 11, 2000... Boasting expansion of up to 50 per cent, the Northern Territory is set to lead Australia in economic growth over the next five years, according to a new study by BIS Shrapnel. Western Australia and Queensland are also forecast to surge,...

Awards alumni go face to face.(Brief Article)
February 11, 2000... Some of the shining lights from the history of the Business Asia News Magazine Awards came together for the first time in Sydney this month for the launch of the Business Asia Awards Alumni. A group of top business minds from Australia and...

Air freight on move, rate hike in doubt.(Brief Article)
February 11, 2000... The air freight industry in Australia is beginning the year 2000 more positive than a year ago because of a recovery in key Asian export markets, but sea freight is looming as a bigger threat, a Reuters survey shows. Airlines and...

FedEx launches Kuching service.(Brief Article)
February 11, 2000... Federal Express, the world's largest express transport company, has launched new services in Kuching, Malaysia, in response to increased demand for air express services due to rapid industrialisation in the state. FedEx Malaysia managing...

Fall in credit hurts Asian shippers.(Brief Article)
February 11, 2000... The credit quality of shipping companies across South East Asia has suffered in the past two years, with most companies now in the weak to vulnerable stage. Standard & Poor's shipping analyst in Singapore, Ee-Lin Tan, said most companies...

Warehouse shares up in Japan.(Brief Article)
February 11, 2000... Japan's long-neglected warehouse and transport shares have rallied on hopes that a boom in electronic commerce will increase demand for storage and delivery services. But analysts warn that many issues in the sector are not ready for the...

Foreigners turn to Singapore.(Brief Article)
February 11, 2000... Singapore, once overshadowed by business hubs such as Hong Kong and Tokyo, is winning over a growing number of companies seeking to put down roots in Asia through its lower costs and more cosmopolitan outlook. In 1999, 27 foreign companies...

New RMIT degree for Shanghai.(Brief Article)
February 11, 2000... Australia's logistics expertise will be further utilised in Asia thanks to a new deal signed by the Royal Melbourne Institute of Technology (RMIT) and the Shanghai Institute of Foreign Trade (SIFT) to start an undergraduate logistics degree in...

Asian growth boosts UPS revenue.(Brief Article)
February 11, 2000... Significant growth in the areas of logistics and e-commerce has helped UPS report record results for the fourth quarter, highlighted by gains in its core domestic and international package business. The results led to a record full year...

Attendance record for conference.(Brief Article)
February 11, 2000... The ninth Air Freight Asia conference and exhibition, the biannual Industry gathering to be held in Kuala Lumpur in late February, will be attended by a record number of delegates and exhibitors. Close to 40 speakers will cover a variety of...

Platform boots give sales a kick.(Brief Article)
February 11, 2000... Mayu Enatsu's new boots took some getting used to. After stumbling in them several times, one day the 17-year-old Tokyo high-school student took a hard fall at the bottom of a stairway. The result: one badly swollen ankle. No...

Politicians torn between old, new ways.(Brief Article)
February 11, 2000... A political battle between an "Old Japan" that favours stability and a more ruthlessly efficient, risktaking "New Japan" is heating up, muddling prospects for reforms seen vital by many to future growth. Signs of backpedalling on key...

Indonesian banks facing a bloodbath.(Brief Article)
February 11, 2000... It is crunch time for the Indonesian Government's expensive bank recapitalisation program. Between now and March some of the 500 trillion rupiah (US$70 billion) in bonds the government issued to save embattled banks will hit the secondary...

Travel trends.(Brief Article)
February 11, 2000... Visitor arrivals and resident departures in Asia (September 1999) Visitor % growth % growth arrivals on Sept on Sept Country ('000) 1998 1997 AUSTRALIA 353.1 ...

Korea domain name fetches US$5 million.(Brief Article)
February 11, 2000... * Seoul -- Cable network-based ISP Thrunet bought the Web domain "korea.com" for US$5 million, the second-highest price in the world after "business.com" was purchased for US$7.5 million last November. Former domain owner Lee Hee-joon, a...

Telco merger dubbed `boring' by analysts.(Brief Article)
February 11, 2000... A merger of Asian telecom titans Cable & Wireless HKT and SingTel would be far from a marriage made in heaven, Hong Kong analysts say. The Hong Kong and Singapore firms, each facing an erosion of market share at home, are not a compelling...

ASIA WATCH.(Brief Article)
February 11, 2000... Latest news from the region * Philippines Henry Sy, the Philippines' biggest retail landlord, may sell shares in his grocery and shoe stores or fold them into his listed real estate company as the retail industry braces for the advent...

Export outlook brightens, but more reforms needed.(Brief Article)
February 11, 2000... Australia's economic growth is set to continue and Asia is looking up -- signs which bode well for our exporters in 2000. Federal Trade Minister Mark Vaile looks at the year ahead. With strengthening global economic growth and consolidation...

Get in for your fair share.(Brief Article)
February 11, 2000... Asian stocks to outperform global rivals First, the good news: Asian shares will provide great value in 2000. A top Jardine Fleming analyst says Asian share prices will rise 25 per cent in 2000, outperforming most other global markets,...

Wipro seals Microsoft deal.(Brief Article)
February 11, 2000... Indian computer and software group Wipro Ltd and global giant Microsoft Corp have announced a strategic deal which will put the Bangalore-based company in line to grab a slice of the Internet pie. Analysts said Wipro will gain enormously...

NEWS: In brief.(Brief Article)
February 11, 2000... * Tokyo -- Prices are to be cut by about 25 per cent on domestic routes by Japan Airlines for customers who book fares on the Internet. The airline says this is the first offer in Japan targeted at Internet passengers. The discount would be...

Wages fail to reflect revival.(Brief Article)
February 25, 2000... One of the first economists to flag Asia's financial crisis has punctured euphoria over the region's recovery with a warning that rebounding growth has failed to bring rising wages and employment. Yilmaz Akyuz, the chief economist of...

IT, telecom ring-ins forge ahead.(Brief Article)
February 25, 2000... If Asia is supposed to be taking a softly, softly approach as it continues its economic recovery, no one has told its new breed of e-commerce entrepreneurs. This year's Business Asia top corporates lists are dominated by traditional market...

Rate hikes likely for Asia.(Brief Article)
February 25, 2000... Recovery to fuel inflation Higher short-term Korean interest rates are a sign of things to come in Asia and highlight central bankers' dilemma -- whether to bear down on inflation through monetary or exchange rate policy, economists say....

Tokyo tops office costs.(Brief Article)
February 25, 2000... Tokyo and Mumbai are the most expensive Asian cities in terms of office accommodation costs, according to a new Cushman & Wakefield survey. Based on rates at the end of December last year, Tokyo retained the top position it held six months...

ASIA FACT FILE.(Brief Article)
February 25, 2000... Foreign funds In this week's Fact File, we look at foreign ownership limits in Asia's local banks both pre and post the financial crisis. CHINA Pre-crisis 100% Post-crisis 100% HONG KONG Pre-crisis ...

Malaysian fears.(Brief Article)
February 25, 2000... Ethnic and religious violence in Indonesia is unsettling neighbouring Malaysia, fanning fears a rush of immigrants could undermine regional stability. "Malaysia is in tremendous trepidation because Indonesia is out of control," said an...

Dragons set for golden year.(Brief Article)
February 25, 2000... Investors backing Li The Chinese Year of the Golden Dragon is said by astrologers to be a year for partnerships, new ideas and handsome returns, especially for those born in Dragon years. It's a prophecy with which investors seem to...

Trade round delays hurt poor.(Brief Article)
February 25, 2000... World Trade Organisation (WTO) chief Mike Moore has warned that if a new global trade round is delayed for long it could have a serious effect on developing countries. Speaking in Thailand, Moore told a news conference at a summit of the...

In brief.(Brief Article)
February 25, 2000... * Seoul -- General Motors has indicated interest in acquiring Daewoo Motor Sales and Daewoo Capital, as well as the passenger car unit of Daewoo Motor. According to sources, GM wants to use Daewoo Motor not as a simple subcontractor but as a...

Softbank targets Third World.(Brief Article)
February 25, 2000... Softbank, Japan's largest Internet business investor, has made its name by buying into fledgling dot com startups throughout the world and reaping the benefits later. That winning strategy looks set to continue, with Softbank and the World...

Asia key region for Lexmark.(Brief Article)
February 25, 2000... If it's Tuesday, then Lexmark International's Philip Carmichael must be in Sydney. As the global printer company's Asia-Pacific general manager, Carmichael says he spends most of his time on the road visiting the 22 countries for which he...

Retailers slow off mark.(Brief Article)
February 25, 2000... Playing it safe has cost large Australian retailers significant opportunities to break into the Asian market, according to PricewaterhouseCoopers (PwC) retail lead partner Tony Liebowitz. A new study, titled "Retail Meter Asia", by PwC and...

Strong yuan may hinder export drive.(Brief Article)
February 25, 2000... China put off scrapping its currency's peg to the United States dollar for two years -- worded the yuan would plunge. Now a likely strengthening of the yuan may be the obstacle. Seven banks surveyed by Bloomberg News all said the yuan would...

Awards alumni off and running.(Brief Article)
February 25, 2000... A gathering of Business Asia Awards Alumni in Sydney recently highlighted the launch of the magazine's 2000 awards. The alumni aims to bring together past winners and finalists from the Business Asia Awards seven-year history. Former...

Acquisitions a concern for ASEAN.(Brief Article)
February 25, 2000... South East Asian countries are concerned about developing nations being hit by a backlash from a current global trend for megamergers and acquisitions. Leaders of the Association of South East Asian Nations (ASEAN) said at a meeting this...

ASIA'S TOP 200 CORPORATES.(Brief Article)
February 25, 2000... Telecom firms, IT upstarts shake up list Household names still figure prominently on this year's Top 200 list, but e-commerce companies are rapidly changing Asia's corporate landscape Information technology and telecommunications...

Leighton to spread wings in Malaysia.(Brief Article)
February 25, 2000... * Sydney -- A subsidiary of Australia's Leighton Holdings has been awarded a US$171.42 million contract for the construction of 7200 apartments and the project management for a further 28,000 apartments for Encorp Construction in Malaysia....

Craft builds business in HK.(Brief Article)
February 25, 2000... Brisbane company Craft Construction continues to expand its Asian presence, having recently completed a series of building contracts valued at more than HK$200 million (A$40 million). Craft general manager Carl Snape said since the...

Thai mobile company a target for Telstra.(Brief Article)
February 25, 2000... Australian telecommunications giant Telstra plans to expand its wireless presence in South East Asia and is locked in talks with Thai mobile provider Total Access Communications. Telstra confirmed the negotiations after rumours spread...

Machinery orders rise.(Brief Article)
February 25, 2000... Machinery orders in Japan jumped 16.1 per cent in December, far above market expectations -- raising hopes the economy is building a strong base for a recovery from its worst downturn in half a century. The data, seen as a major sign that...

STOCK STANDARD.(Brief Article)
February 25, 2000... World stock market turnover (1998) Rank Market Turnover Ratio 1 Taiwan(*) 323.0 2 Spain 201.9 3 South Korea(*) ...

ASIAWATCH.(Brief Article)
February 25, 2000... Latest news from the region * China China plans to reduce the number of its trust companies to 90 from 240 this year to clean up the industry ahead of the country's expected entry into the World Trade Organisation, the Asian Wall...

Hanoi must look north.(Brief Article)
February 25, 2000... Many Western investors have given up on Vietnam. Alex Erskine(*) looks at how the country can get back on track. Despondency over Vietnam's sluggish economic outlook is easily overdone. Most of the pessimism stems from those who,...