Business Asia articles from June 1999

Business Asia archives from June 1999

Chaebol up to old tricks.(Statistical Data Included)
June 14, 1999... ... but adviser says markets will win out Market discipline will erode fears that South Korea's debt-laden conglomerates could abandon reforms and return to their old ways, according to a leading Korean economic advisor. No one doubts...

Fate of bond deal hinges on polls.(Indonesia)
June 14, 1999... Political developments are expected to shape foreign interest in a 157.6 trillion rupiah (A$31.5 billion) Indonesian government bond issue, aimed at rebuilding confidence in the banking industry and the national economy. Market analysts...

Asia urged to go green.
June 14, 1999... Unbridled economic growth in Asian countries could mean ecological catastrophe unless governments actively pursue new policies based on the emerging science of "Cleaner Production", an Australian academic claims. Without such new policies,...

ASIA FACT FILE.(electric power consumption)(Illustration)(Statistical Data Included)
June 14, 1999... Let there be light This edition's Fact File looks at electric power consumption throughout Asia-Pacific. AUSTRALIA Consumption per capita kwh 8086 CHINA Consumption per capita kwh 687 HONG KONG Consumption per...

Traders missing the boat.
June 14, 1999... Australians too coy: DeOcampo Australian companies are not taking full advantage of Asia's still-ripe investment potential, according to former Philippines Finance Secretary Mr Roberto DeOcampo. He said Asian firms had traditionally...

Manila declares recession over.
June 14, 1999... The Philippines says it has emerged from recession linked to the Asian financial crisis and drought, reporting that the economy has grown 1.2 per cent during the year to the first quarter. Analysts said the growth in gross domestic product...

Asia nibbles at Japan bond guarantee offer.
June 14, 1999... South East Asia's crisis-hit economies have moved a step closer to taking advantage of a Japanese plan to help them regain their credibility on the international bond markets. Mr Eisuke Sakakibara, Japan's top financial diplomat, is...

Search on to reveal region's best hotels.(Best Business Hotels in Asia Awards)
June 14, 1999... The search for the finest hotels in the Asia-Pacific region has resumed with the launch of the 1999 Best Business Hotels in Asia Awards. The awards, first held last year, were introduced by Business Asia to recognise the importance of...

Hilton targets India.
June 14, 1999... Hilton International, which moved out of India last year, is planning a quick return to cash in on the booming tourist market, a senior company official says. Hilton International is the hotel arm of British-based Hilton Group, which also...

In Brief.
June 14, 1999... * Houston -- The hotel room of the future may be just around the corner, with United States researchers now developing space-age rooms. On the drawing board at the Conrad N. Hilton College at the University of Houston in the United States are...

Korea school system set for overhaul.
June 14, 1999... Wide-ranging changes to South Korea's education system could produce significant training opportunities for Australian businesses, a leading Korean political figure says. And the improving economic situation could also result in the return...

Surfing the 'Net.(Illustration)(Statistical Data Included)
June 14, 1999... INTERNET USERS IN ASIA-PACIFIC NATIONS Number of users Internet traffic rating China 1.5 million 39.5 Australia 4 million 63 Hong Kong 65,000 ...

Fund managers in upbeat mood as revival starts.(Asian economics)
June 14, 1999... Global fund managers are now upbeat on Asia, with a new survey showing a majority of managers think the region's economic crisis has abated. The Merrill Lynch May 1999 Fund Manager Survey found global optimism was continuing to rise and...

Banks hold Japan back.
June 14, 1999... Corporate restructuring offers hope for greater liberalisation and foreign involvement in Japan, but sustained economic recovery is unlikely unless massive bad loan problems are tackled, according to a respected Japan analyst. Professor...

Holden revs up its export drive.
June 14, 1999... PAUL HAM reports on the phenomenal history of Australia's homegrown car -- and its ambitious plan to expand overseas. Holden's future hinges on the campaign's success. The car that has rounded up sheep, burnt rubber on outback roads and...

Kim woos foreign investors.(South Korea)
June 14, 1999... South Korean President Mr Kim Dae Jung says Asia-Pacific economies have roared back from a year of crisis and are now even better targets for investment. "Asian economies are emerging again as the target area worth investing in, thanks to...

Exporters home in on exhibitions.(Virtual Expo International)
June 14, 1999... Australian exporters can now have a distinctive presence at international trade shows without leaving home. A new development by Virtual Expo International combines the networking advantages of exhibitions with the reach of the Internet....

Online trade system trashes use of paper.
June 14, 1999... The days of typing out messy letters of credit on scraps of paper are over for Mr Victor Grynberg and his employees. Managing director of VAG Shirts in Sydney, Mr Grynberg has switched to a new online trade banking system launched by...

Favourable conditions to emerge in transport.
June 14, 1999... An increasingly favourable economic outlook should result in greater opportunities for Australian transport businesses in Asia, Austrade's senior trade commissioners say. The commissioners from Malaysia, Thailand, Singapore and the...

Infrastructure on way back.
June 14, 1999... Asia's battling infrastructure sector is making a slow comeback, but Australian companies need to act now to exploit the impending recovery, according to Australia's senior trade commissioners (STC) in the region. In Thailand, STC Mr...

Food figures offer hope.
June 14, 1999... Australian food exports to Asia have risen back to pre-crisis levels and are expected to grow strongly in the second half of this year, according to figures from Supermarket to Asia. Figures for March, 1999, showed exports increased to Asia...

Big grape harvest to ease shortages.
June 14, 1999... The Australian wine industry looks set to have met its target for a vintage crush of more than one million tonnes of grapes -- its highest tonnage yet -- after a late Indian summer gave the grape harvest a boost. Australia's two largest...

Asians regain taste for chocolate.
June 14, 1999... Kids love it, Japanese women send it to men on Valentine's Day and Chinese give it as gifts to couples at their weddings. The appeal of luxurious chocolate is recovering strength among Asians after the region's debilitating financial crisis...

High-value foods get, $1.3m lift.
June 14, 1999... A new A$1.3 million program will help Australian agribusinesses boost its high-value food exports, according to Federal Minister for Agriculture, Fisheries and Forestry, Mr Mark Vaile. He said the New Industries Development Program (NIDP)...

Winners in good voice at award.
June 14, 1999... It was not business as usual as two outstanding Australian entertainers stole the show at last month's presentation night for the Business Asia News Magazine Awards. Australian music icon Kate Ceberano and rising young pianist Andrew Lam...

Potted road for Jakarta investors.
June 14, 1999... As counting continues following Indonesia's June 7 national elections, ANGELA ROMANO reports from Jakarta on the implications for foreign investors of a possible new government in the archipelago Indonesia's five major political parties...

Tuna row sees ban on Japanese boats.
June 14, 1999... * Japanese fishing boats will be banned from Australian ports and fishing zones over Japan's decision to ignore international quotas on the threatened Southern Bluefin Tuna. Japan has announced it would again conduct an experimental fishing...

Jewellery drives up world gold demand.
June 14, 1999... Strong sales of jewellery and improving Asian markets has led to a 62 per cent increase in demand for gold in the first quarter of 1999 compared to the opening months of last year. First-quarter demand in countries monitored by the World...

Brownie points for Leighton.(Leighton Contractors' environmental management system)
June 14, 1999... Leighton Contractors (Asia) Limited has achieved ISO 14001 certification for its environmental management system, making it one of the first construction companies in Hong Kong to do so. The Hong Kong Quality Assurance Agency notified...

Residency carrot for investors.(Indonesia)
June 14, 1999... * Jakarta -- The Indonesian government is considering granting permanent residence to foreign investors who have an investment of at least US$1 million in the country. The possibility would be brought up at a special cabinet meeting on...

A message for Asia: Go global.
June 14, 1999... Asia is clawing its way back from crisis, but more needs to be done to ensure the region's stability. The International Monetary Fund's MICHEL CAMDESSUS(*) outlines how Asia can sustain its recovery. The countries at the heart of Asia's...

A decade after Tiananmen, New World reaps benefits.
June 14, 1999... New World Development Ltd, 10 years after a bold move into China, is reaping big rewards from its support for Beijing after the Tiananmen Square crackdown, but finds the investment environment is changing significantly. "For the next 10...

Is Japan back on track?
June 28, 1999... Strong yen a concern "See, it's working." That's what Prime Minister Mr Keizo Obuchi has been saying as he seeks to persuade world leaders that his, efforts are getting Japan's economy back on track. Mr Obuchi was armed with some...

Turnaround to benefit rest of Asia.
June 28, 1999... Japan's economic turnaround is good news for its Asian neighbours. Taiwan and South Korea, in particular, are expected to benefit from Japan's recovery and these two markets are getting the most emphasis in any reallocation of funds. ...

Airfares for business in class of their own.
June 28, 1999... Business-class airfares are increasing faster than any other category of air travel in the Asia-Pacific region -- jumping 13.9 per cent over the past three years. According to the latest American Express Airfare Index, first-class and...

ASIA FACT FILE.
June 28, 1999... Keeping watch on the Web This edition's Fact File lists the number of World Wide Web pages that exist on countries in the Asia-Pacific region. The search tool used was Alta Vista. AUSTRALIA June 1999 5,874,270 CHINA June...

Asia kicking short-term borrowing habit.(Statistical Data Included)
June 28, 1999... Asia's addiction to short-term capital has abated, as much due to a lack of new investment by Asian companies as to more conservative lending by international banks. The latest annual report from the Bank for International Settlements...

Bad rap for Jakarta banks.(Indonesia)(ST)
June 28, 1999... Crisis `worst' since 1970s Indonesia's banking crisis is the world's worst since the 1970s and may take up to a decade to recover, the latest Standard and Poor's figures have found. Standard and Poor's estimates that Indonesia's crisis...

It's big news: Indonesia may let foreigners buy into media.
June 28, 1999... Indonesia appears set to revoke its previous nationalist policies relating to cultural industries, with new draft laws proposing limited foreign ownership of the print and broadcast media. Indonesian parliament has agreed to debate a law on...

Upbeat outlook as companies pursue growth.
June 28, 1999... Renewed enthusiasm is sweeping through leading Asian and multinational companies, with a new study suggesting that most companies are now seeking growth opportunities in Asia. However, companies should move quickly to take advantage of...

Asia, Africa ahead of the crowd.(ST)
June 28, 1999... Asia, long considered the world's population powerhouse, will be overtaken by Africa as the fastest-growing region next century despite growth rate predictions of 35 per cent by 2025. Now boasting 3.64 billion people, Asia is tipped to grow...

Top brokers lengthen lead.
June 28, 1999... The biggest, best-capitalised brokerages are starting to run away from the pack in the Hong Kong and China equity market, in both research and commissions, according to a new survey. The 1999 Reuters Survey of Hong Kong and China Companies,...

Gas industry in doldrums as delays hit.
June 28, 1999... Japan, Korea to be the hardest hit Gas has become the latest sector in Asia to reveal its economic crisis-inflicted wounds, with a new survey showing industry experts expect negative long-term effects in several countries. The Natural...

In brief.
June 28, 1999... * Hong Kong -- Struggling with an economy mired in recession, Hong Kong is hoping to pull off a coup this month which would bring a Disney park to the territory, creating a major tourist venue and thousands of jobs. Talks between the government...

Hotel awards to go on-line.
June 28, 1999... In a high-tech development to reflect business in the approaching new millennium, this year's Best Business Hotels in Asia Awards are going on-line. At the launch of the awards in Bangkok this month, it was announced that, for the first...

Good news on Korean revival may spell trouble for reforms.(South Korea)
June 28, 1999... As the Korean economy rebounds from its worst recession since the 1950s, fears are growing that positive economic figures will see financial reforms go on the backburner. At the same time, the government's sale of two of the biggest...

China turns to stocks to drive consumption.
June 28, 1999... More than a decade after China officially proclaimed that "to get rich is glorious", Beijing is hoping the rich will spread the glory around by spending rather than banking their stock market gains. As China's share markets enjoyed a lift...

Dairy goods a hot item as taste choices change.
June 28, 1999... The Peters-Brownes Dairy group is seducing Asian palates with its broad range of gourmet ice creams, "impulse ice creams" and dairy products. The Western Australian-based company, which has been exporting its products to the region for...

West resilient in face of exposure to Asia.
June 28, 1999... A reliance on its neighbouring Asian markets threatened to upset Western Australia's economy, but the resource-rich State appears to be holding its economic ground Despite concerns about mineral export earnings and its heavy exposure to...

Shipbuilders see signs of comeback.
June 28, 1999... Customers lining up new orders Australia's shipbuilders are beginning to see signs of a comeback in the Asian marketplace by means of a slow reawakening of customer inquiries. Larger builders in the car-carrying sector, such as Austal...

New game-plan to lure tourists.
June 28, 1999... Western Australia has joined the race to attract Asian visitors during the Sydney 2000 Olympic Games, with the Western Australian Tourist Commission (WATC) unveiling a new positioning statement this month. The WATC's slogan, "Perth,...

State ready for Asia's economic revival.
June 28, 1999... Western Australia's Deputy Premier and Trade Minister HENDY COWAN comments on efforts in the West to combat export difficulties caused by Asia's economic crisis Four-fold rise in aid projects Asia's economic downturn has presented a...

Japan, China in line for new LNG deals.(liquefied natural gas)
June 28, 1999... Minerals and petroleum exports are still the heart of Western Australia's export drive. The State is looking to north Asian economic powerhouses in its quest for lucrative new deals Western Australia will continue to expand its valuable...

Nickel prospects to test WA's mettle.(Western Australia)
June 28, 1999... Western Australia could become the world's leading producer of nickel metal within the next decade if projected growth is realised, according to the State's Resources Development Minister, Mr Colin Barnett. The Minister said the stunning...

Fremantle acts as the West's Asia gateway.(Australia)
June 28, 1999... Fremantle Port has evolved from a loss-making operation into an important trade tool for Western Australia. Western Australia's main general cargo port, Fremantle, could well assume the title as the nation's western gateway to Asia. ...

Asia's no Downer, says Alex.(Alexander Downer)
June 28, 1999... Minister for Foreign Affairs Mr Alexander Downer says Asia's crisis will force democratic and economic reforms and lead to what he wryly described as "the Australianisation of Asia". Speaking at the Top Exporters' dinner in Sydney last...

Bumpy road to recovery, says Access.(Access Economics)
June 28, 1999... Asia could expect further setbacks on the road to recovery, including increasing political and social tensions, according to a new forecast by Access Economics. The June 1999 Economics Monitor Report claims the bumpy road ahead, coupled...

Chinese grow wary of speedy reforms.
June 28, 1999... Anti-Western feelings in China could rise if its people feel the pace of economic reforms are too fast, a top academic has warned. Professor John Fitzgerald, of La Trobe University's Asian studies faculty, said Western and American...

Banks bunker down for trade-off.
June 28, 1999... An expected boom in bank mergers and acquisitions throughout Asia has so far not eventuated, but a new McKinsey report suggests the bloodletting is about to begin -- with a vengeance Two years of economic woe has had many profound affects...

Japanese banks lead withdrawal from Asia.(ST)
June 28, 1999... Japan's banks seem to have ignored their own government's example of helping bail out Asia during the economic crisis, with Bank of International Settlement (BIS) figures showing Japanese banks led the investment flight out of the region in...

Tokyo junk bonds on hold.(Japan)
June 28, 1999... * Tokyo -- A junk bond market to help small businesses develop could promote entrepreneurship in conservative Japan, but officials say the recession-hit economy is not yet ready for such an idea to take off. The market is the brainchild of...

Burger giant hands Aussie top Asia post.(Australian McDonald's Corp. executive)
June 28, 1999... McDonald's Corp has announced that Australian executive Mr Charlie Bell will become the fast-food giant's youngest divisional president, moving to the Chicago head office in August to direct the company's Asia-Pacific operations. Mr Bell,...

Rich Asians defy crisis.
June 28, 1999... Asia's richest people have weathered the economic crisis and still managed to make a profit, with a new survey finding their combined wealth jumped by 10 per cent last year. The Merrill Lynch/Gemini Consulting World Wealth Report 1999 found...

Good news is bad news in Japan.(economic reform)
June 28, 1999... The world is heartened by the first signs of a Japanese economic recovery. Strangely, the Japanese may not be so happy. Complacency the big risk From some perspectives, economic recovery in Japan might be feared by government officials...

China defends foreign policy as war of words drags on.
June 28, 1999... China maintains that its economic reforms and attempts to join the World Trade Organisation (WTO) will not be derailed, despite recent turmoil in its political relationship with the West. The recent bombing of a Chinese embassy in Belgrade by...