Business Asia articles from March 1999

Business Asia archives from March 1999

Mahathir down but not out.
March 1, 1999... A "mortally wounded" Dr Mahathir Mohamed still has the personal drive -- plus the political advantage of a Malaysian electoral gerrymander -- to win a likely early election in May, according to the nation's leading political commentator. ...

Can the two Koreas come to the party?
March 1, 1999... North and South Korea have been split since the early 1950s following the paralysing Korean War. CAMERON COOPER reports on efforts to ease tensions and achieve reunification on the peninsular For a starving nation, spending $US100 million...

ASIA FACT FILE.(Statistical Data Included)
March 1, 1999... Planes, trains, automobiles In this edition's Fact File, we examine the level of transport infrastructure in Asia-Pacific countries. AUSTRALIA Airports (1997 est): 419 Highways (1996 est): 913,000km...

Help our exports: Aquino.(Thomas G. Aquino)
March 1, 1999... Australia needs to do more to open its trade markets to developing nations such as the Philippines, according to one of Manila's leading economic policy-makers. Dr Thomas G. Aquino, governor of the Philippines Board of Investments, said...

Fiscal time-bomb ticks ominously in Asia.
March 1, 1999... Singapore -- Asian countries should beware of repeating Japan's problems in using aggressive fiscal expansion to dig themselves out of recession. Analysts claim there is a danger that future bond issuance to finance growing internal...

In brief.
March 1, 1999... * Jakarta -- Australian salt producer Cheetam Salt plans to build a US$6 million industrial salt factory in Indonesia. The new factory in Cilegon, in West Java, will have a production capacity of 50,000 tons per year. Cheetam also plans to set...

Thai numbers don't add up.
March 1, 1999... Bangkok -- New data confirms what many economists have suspected for some time -- Thailand's recession has been even worse than officially admitted. An official think-tank linked to the Office of Prime Minister Mr Chuan Leekpai estimated...

China may be next to sink, report claims.
March 1, 1999... China is the next economic domino that could fall as it props up indebted state-owned enterprises and Asia's worst banking system, according to a new study. While predicting the "bottom of the trough" for most Asian economies in 1999, the...

Arts sector embraces awards.
March 1, 1999... One of the fledging categories in the Business Asia News Magazine Awards appears to be catching the attention of companies. Most nominations were received this year for the category of Outstanding Achievement in the Arts and Entertainment...

Judges honour wine industry as voting opens.
March 1, 1999... The burgeoning presence of Australian wines in Asia has been rewarded by judges in determining finalists for the 1999 Business Asia News Magazine Awards. Southcorp Wines is among six contenders for the prestigious Best Australian Large...

Jiang takes centre stage.(Jiang Zemin)
March 1, 1999... Jiang Zemin's public persona is a portrait in strength and severity. However, the Chinese President's softer side is beginning to emerge as he prepares China for its dawning new era. To see him casually slip into his "other" languages --...

Trading out of the squalls.
March 1, 1999... Many economies in Asia are no longer sailing comfortably and are in recession. These economic squalls cannot be ignored. Compared to the biggest dozen of Asia (Japan, China, Taiwan, South Korea, Indonesia, Malaysia, Singapore, the...

The leaders ...
March 1, 1999... The future of the Asia-Pacific region -- to a large degree -- rests in the hands of its political leaders. Never has the need for strong leadership been more apparent. Over the next few pages, Business Asia examines the strengths and weaknesses...

Leaders must take a stand.
March 1, 1999... This year looms as a tough, but positive, period for the embattled Asia-Pacific region, with many countries tipped to turn the corner in the third financial quarter. However, there is a significant proviso. Asia's problems risk being...

New Asia clings to old ways.
March 1, 1999... The West is arrogantly telling Asian nations how to reform, but will they listen? Asia will recover from the set of crises that now beset the region. That recovery, however, will not follow the path laid down in the free market...

ASEAN pledge to axe barriers.(Association of South East Asian Nations)
March 1, 1999... South East Asian countries are committed to further economic integration and will not erect barriers to counter the crippling economic crisis hitting the region, a senior official claims. Rodolfo Severino, secretary-general of the...

Thais may print cash to beat bug.
March 1, 1999... The Bank of Thailand says it may print more money in December, 1999, to cope with expected higher-than-normal withdrawals from banks spurred by worries about the millennium bug. The deputy director of the central bank's banknote division,...

Trio facing biggest test.(Indonesia, South Korea, China)
March 1, 1999... The reverberations of the giant economies of Indonesia, South Korea and China will be felt by world markets in 1999 Indonesia, South Korea and China -- three economies likely to experience significant change in 1999 -- loom as important...

Policy flips put Japan under cloud.
March 1, 1999... Japan's latest policy flip-flop has not only left worries on whether the attempt to cap long-term interest rates will work, but also fuelled fears that Japan has no consistent strategy to tackle its deeper economic woes. And while Japan's...

Open trade a good call for the region.
March 1, 1999... Telecommunications in the Asia-Pacific region is a diverse regulatory environment. Foreign companies stand to benefit from further market openings The pace of telecommunications deregulation has increased in the past year in the...

Economic crisis? What crisis?
March 1, 1999... So far, and with some notable exceptions, the Australian food industry's response to the well-documented Asian economic crisis could well be described as: "What crisis?" More than ever, Asia is proving itself to be many different markets....

How the countries rate.
March 1, 1999... Business Asia presents the following country profiles as a guide to Asia-Pacific nations' prospects in 1999. The tips on where to invest are self-explanatory, as are likely reforms countries may adopt. The country ratings are clearly subjective...

Jakarta in grip of paralysis.
March 1, 1999... Asia's financial crisis hit Indonesia harder than any of its ailing neighbours. Eighteen months on, the signs indicate that it is unlikely the nation will make a recovery in the near future Indonesia is in the grip of an economic paralysis...

Legislators aim to beat monopolies.
March 1, 1999... Indonesia's parliament has approved a draft anti-monopoly law which will have a far-reaching impact on the country's conglomerates, many of which are accustomed to virtual monopolies. The law, promised by Indonesia last year in its...

World Bank takes a new approach.
March 1, 1999... The World Bank, shaken by internal and external criticisms of its performance in Indonesia, has changed its approach as a result of the country's devastating economic crisis. "All of us, I think, are scrambling to adapt to this new...

Bank recapitalisation: the hurdles.
March 1, 1999... Indonesia's bank recapitalisation program, a cornerstone of the country's efforts to drag itself out of a devastating economic crisis, faces its toughest hurdles in the weeks ahead. Parliament, which has attacked the scheme, will soon...

Stamford acts on feedback of customers.
March 1, 1999... Stamford Hotels and Resorts has implemented two new initiatives following suggestions by business travellers: the Executive Lounge and Executive Business Suites. The Stamford Plaza Adelaide recently opened its Executive Lounge, modelled on...

Hotel bookings defy scandal over Olympics.
March 1, 1999... The storm over alleged corruption in the Olympic movement does not seem to be affecting hotel bookings for the Sydney Olympic Games in 2000. Despite mass media coverage of the controversy and problems the Australian Olympic Committee is...

`Lobby groups' opt to lounge around.
March 1, 1999... A trend from the 1940s and '50s of conducting business meetings in grand hotel lobbies is making a comeback in the United States -- and has caught on in one of Melbourne's five-star hotels. The Hotel Sofitel Melbourne arranges six-seater...

Ibis puts guests in the fast lane.
March 1, 1999... The Hotel Ibis Perth wants its business guests to sleep, eat and run -- and has developed a special package to help them to do it. The hotel's Business in a Flash package, priced at A$102 per night, is designed for corporate travellers on a...

Dairy deal a boon for Australia.
March 1, 1999... Vietnam has agreed to place Australian butter and skim milk powder products in a lower tariff bracket to bring them in line with New Zealand dairy imports. The move will add A$1 million to Australia's dairy export industry, which earned A$2...

Lunar holiday dims job hopes.
March 1, 1999... Demand for executives dropped again in Hong Kong recently as the economy wound down for the Chinese New Year holiday. Figures in the February EL Index, a survey compiled by executive recruitment firm EL Consulting, showed overall demand for...

Australia shows the way.
March 1, 1999... By registering strong growth and productivity increases, Australia's economy has defied predictions of an imminent tumble stemming from the Asian financial contagion. Economist ALEX ERSKINE(*) explains why Economists at Salomon Smith...

Japanese banks cut jobs as reforms start to bite.
March 1, 1999... In this edition's Asia Watch, we scan some of the region's major economies to provide an update on the business climate in those nations. JAPAN Japan's top banks plan to eliminate 19,600 jobs over the next four years in financial...

Three crucial markets offer hope for food.
March 15, 1999... Asia claws back, study finds Processed food and agriculture are likely to be among the top priorities on Australia's food export agenda as the tide begins to turn in three of Asia's crucial markets. A new Supermarket to Asia study on...

Let's act now to preserve exports.
March 15, 1999... Australian food exports to Asia remain strong, but action must be taken to ensure trade liberalisation efforts are not diluted. JIM KENNEDY(*) comments Rising unemployment levels and emerging populist political issues in Asia represent a...

ASIA FACT FILE.(Statistical Data Included)
March 15, 1999... Food for thought This edition's Fact File examines the share of Australian food exports into Asian markets in 1997-98. CHINA Values of exports from Australia A$560m Share of total Australian exports to Asia: ...

Science tables new foods.
March 15, 1999... Science will play an increasingly important role as Australia attempts to produce new food products to tempt the mammoth Asian market, according to the CSIRO. An internal Commonwealth Scientific Industrial Research Organisation (CSIRO)...

Food safety a highlight at Tokyo fair.
March 15, 1999... A food-safety program designed to increase Australia's food exports has gained momentum through this year's giant FoodEx Japan '99 trade show. Quality Food Australia (QFA) is an initiative of Supermarket to Asia. Endorsed by the Australian...

In brief.
March 15, 1999... Simplot Australi'a A$30 million upgrade of its Kensington, Victoria baking site has been described by the company as "confirming Victoria as the "food state for Australia". Simplot Australia is a wholly owned subsidiary of the United...

Rising demand in Singapore to aid exports.
March 15, 1999... Growing consumer demand in Singapore is likely to see a growth in Australian food exports to the city-state -- and lead to joint-venture deals into other Asian markets. Federal Agriculture Minister Mr Mark Vaile recently held discussions...

OPEN AND SHUT CASE.
March 15, 1999... Social and Political Environment -- Openness to Foreign Cultures, 1998 (0 = closed; 10 = open) [ILLUSTRATION OMITTED] Openness to Foreign Cultures. The internationalisation of the economy is assisted by a number of factors. One of...

Victorian policy all at sea.
March 15, 1999... Victoria plans to double its aquaculture production in the next few years as it targets lucrative Asian markets. The Minister for Agriculture and Resources in Victoria, Mr Patrick McNamara, recently launched the State's new aquaculture...

Trade deals protecting wheat sales in the region.
March 15, 1999... Trade finance packages are part of a strategy by the Australian Wheat Board (AWB) and the Federal Government to protect Australia's market position in the region. The AWB's regional manager South East Asia, Mr Tim Dewan, said exports of...

Dairy sector stands by Korea.(South Korea)(Statistical Data Included)
March 15, 1999... Australia's dairy industry believes exports to the crucial South Korean market will pick up again in 2000 following a recent slide in trade to the troubled nation. The Australian Dairy Corporation (ADC) recently led a trade delegation --...

Pork producers eye North Asian opening.
March 15, 1999... Strategic international marketing and trading off a "clean and green" reputation should enable Australian pork exports to penetrate into North Asian markets, according to market experts. Austrade's senior trade commissioner in Nagoya, Mr...

Gene issue stirs fight.
March 15, 1999... The Australian Food and Grocery Council (AFGC) has reacted angrily to "sensationalist" media coverage about developments in gene technology and its application in food production. Executive director of the AFGC, Mr Mitchell Hooke, said...

Seoul restaurant to put Australia on the menu.
March 15, 1999... South Korea's car market has been feeding off healthy sales in Australia for years. Now, Koreans are gaining a taste for Australian products -- particularly food and beverages. Consumers in South Korea, until the effects of Asia's...

Policy right on seafood.
March 15, 1999... Australian seafood exports rose last year -- led by high-value fish products such as rock lobster, prawns, abalone and tuna -- as growers focused on fish farming and high-quality seafood harvests. Seafood exports rose 15 per cent to A$1.5...

Japan's diners flock to trendy budget bistro.
March 15, 1999... For the college students crowding into the Saizeriya restaurant in Tokyo's Shinjuku district, dinner is like a brief trip to Italy. The chianti is imported from Italy; the pasta prepared al dente, is Italian; even the rucola, the salad...

Principal Australian Agricultural Exports to North Asia.
March 15, 1999... Chinese South China Taipei Japan Korea $m $m $m $m Wheat 1994-95 120.7 - 259.3 130.0 1995-96 ...

Principal Australian Agricultural Exports to South East Asia.
March 15, 1999... Indonesia Malaysia Philippines $m $m $m Wheat 1994-95 240.3 121.7 - 1995-96 550.7 224.2 - 1996-97...

Supermarket to Asia adopts new blueprint.
March 15, 1999... Supermarket to Asia has embarked on a more results-focused strategy aimed at increasing Australian food flows into Asia. The body's executive director Mr Jim Kennedy said recent meetings had determined the new "forward strategy". "This...

Leighton building on success in the region.
March 15, 1999... Economic downturn in the Asia-Pacific region appears to have had a minimal impact on Leighton Asia's regional activities. Work in hand for 1997-98 was valued at A$545 million, down only 2 per cent compared to the previous year. ...

Readers cast votes.
March 15, 1999... Votes have starting coming in 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 11. The coupon will run in the next four editions...

Colonial puts faith in Asian markets.
March 15, 1999... Licence bid in Shanghai a coup Colonial Limited's acquisition of the Asian and United Kingdom funds management business of Nicholas-Applegate is a significant part of the group's Asian funds management strategy. Colonial's...

Qantas travelling well in Asia.
March 15, 1999... Qantas Airways, the world's second-oldest airline, first flew to Asia more than 60 years ago with services to Singapore. The airline now schedules more than 140 flights a week to the region and has direct services between seven Australian...

Southcorp finds right formula.(Southcorp Wines)
March 15, 1999... When Southcorp Wines, Australia's largest wine producer, began its push into international markets in 1991, the company's exports were valued at A$40 million. Now believed to be the world's biggest wine exporter by value, Southcorp Wines...

Lend Lease building on its success.
March 15, 1999... An international property and financial services group, Lend Lease is one of Australia's top-20 listed companies and has a total market capitalisation of about A$11.1 billion. The group currently provides services in Singapore, Indonesia,...

GDP growth likely to beat predictions, say analysts.
March 15, 1999... Singapore's government has remained conservative about growth prospects for 1999 but economists say recent economic data indicates an unexpectedly strong economy. After the Ministry of Trade and Industry (MTI) announced 1998 gross domestic...

Australia must `take lead'.
March 15, 1999... Singapore Prime Minister Goh Chok Tong's recent visit to Australia has underlined the two countries' vital role in any Asian economic recovery. However, Indonesia remains a destabilising influence. CAMERON COOPER reports Australia is in a...

Thinking school, learning nation -- A smart move.
March 15, 1999... The Singapore Government has unveiled an education action plan to cultivate intellectual assets. Called "Thinking Schools, Learning Nation", the program aims to raise Singapore's quality of education to world-class standards and make...

Singapore goes one up.
March 15, 1999... The Goh Government's Singapore ONE initiative envisions wiring up all households and businesses on the island to make Singapore a truly intelligent nation. Singapore ONE will deliver a new level of interactive, multi-media applications and...

Only smartest can prosper in global village.(Singapore's intellectual resources)
March 15, 1999... Singapore is counting on intellectual capital and innovation to ensure it competes with the world's major developed nations. Singapore's High Commissioner to Canada Mr Kishore Mahbubani said modern economies could not progress unless they...

Centres a top contact point in Singapore.
March 15, 1999... To get connected to a range of employment opportunities in Singapore, you can access Contact Singapore centres at eight locations throughout the world. Contact Singapore is an information and resource centre that is your first point of...

Door still open to investments in Singapore.
March 15, 1999... Singapore is maintaining an open-door policy on foreign investment and market access, despite the region's economic crises. Dr Tony Tan Keng Yam, Deputy Prime Minister and Minister for Defence, said recently that Singapore was determined to...

Strong Australian, UK tourism offsets Asian losses.
March 15, 1999... Singapore has been turning to ever-strong Australian and United Kingdom tourism markets to offset a shortfall in numbers from traditional Asian sources. Mr Yeo Khee Leng, chief executive of the Singapore Tourism Board (STB), said...

Growth rate in Australia helping Asia.
March 15, 1999... Singapore Prime Minister Goh Chok Tong says Australia's high growth rate is helping the Asian region. "It surprised me, to be very frank. When I was here five years ago, I would not have expected Australia to grow by 4 or 5 per cent a...

Hu unveils cautious budget.(Richard Hu)
March 15, 1999... Singapore Finance Minister Mr Richard Hu has unveiled his fiscal 1999-2000 budget -- and analysts say the government is as cautious about new spending as it has been about prospects for growth. Total expenditure in the budget was estimated...

Nations ink deal on IT.(information technology)
March 15, 1999... Australia and Singapore have signed a memorandum of understanding (MOU) on co-operation in information and communications technology. The Australia-Singapore IT MOU is part of Singapore's continuing effort to foster close collaboration with...

Seah keen on joint-venture deals.(Peter Seah)
March 15, 1999... Capital-rich Australia and Singapore are bucking Asia's gloomy trend by encouraging joint-venture deals between the two nations. Among those eager to pursue the financing of joint-venture deals are Overseas Union Bank (OUB) president and...

Timor Sea drilling defies downturn.
March 15, 1999... A downturn in the international oil industry will not stop a spate of projects in the Timor Sea this year. DAVID HANCOCK says Australia, and particularly Darwin, will reap the benefits The Timor Sea oil fields off northern Australia will...

New infrastructure drives Darwin.(Australia)
March 15, 1999... A rash of new infrastructure developments underpins the Northern Territory Government's push to establish Darwin as the premier offshore support base for the Timor Sea. Included on the project list is Darwin's new A$200 million port, the...

Group to unify LNG industry.(liquefied natural gas)
March 15, 1999... Australian producers of liquefied natural gas (LNG) want to ease confusion in Asian markets by promoting the industry through a new marketing group. The Australian LNG consortium (ALNG) hopes to better exploit Australia's supply of gas...

Prices, Timor put a cloud over project.
March 15, 1999... The proposed A$2.1 billion Bayu-Undan liquefied gas project in the Timor Sea has fallen behind schedule amid concern over falling oil prices and political uncertainty surrounding East Timor. Venture partners Philips, BHP, Santos, Inpex,...

Oilfield giant enters NT.(Northern Territory, Australia)
March 15, 1999... One of the world's top 300 companies has established a modern facility in Darwin, making the city a focus for its operations in the oil industry throughout northern Australia and the Asia-Pacific region. Two companies from the Baker Hughes...

Gusmao allays fears on Timor Sea.(Xanana Gusmao)
March 15, 1999... High-level talks with East Timor officials appear to have quelled Australian Government fears of a bunfight over access to Timor Sea oilfields. East Timorese leader Mr Xanana Gusmao has reportedly told Australia that he will stand by...

Envestra buys NT pipeline.(Northern Territory, Australia)
March 15, 1999... Envestra Limited has completed the purchase of the Palm Valley natural gas transmission pipeline in the Northern Territory from Holyman Ltd. The 14-kilometre pipeline connects the Palm Valley gas field to Alice Springs in the Northern...

Why Darwin can cash in on oil sector.
March 15, 1999... Darwin is establishing itself as a centre of regional significance for the Asia-Pacific region, Following are some of the Northern Territory's strengths in the industry, and initiatives that promise to drive the industry into the new...

Supply base a coup for Shorelands.(supply base operator)
March 15, 1999... A giant United States offshore supply base operator has partnered with a Northern Territory company to establish an important logistics base in Darwin to service regional oil, gas and mining industries. Shorelands, of Darwin, and Aker...

Miyazawa passes the buck.(Kiichi Miyazawa)
March 15, 1999... Japan reckons the International Monetary Fund requires an urgent overhaul, but DAVID DeROSA(*) argues that policy-makers in Tokyo are looking for scapegoats Japanese Minister of Finance Mr Kiichi Miyazawa thinks the International Monetary...

Avid savers put a brake on China's growth rate.
March 15, 1999... Company manager Chen Yiwu squirrels away as much of his hard-earned salary as he possibly can in a Chinese state bank. "I have to save money against a rainy day," said the 29-year-old trading company executive. "What should I do if I lose...