Business Asia articles from October 1998

Business Asia archives from October 1998

Business shake-up in Japan.
October 19, 1998... Politics decision, spurs `sogo shosha' Crippled by a political vacuum in Tokyo, Japanese conglomerates are taking it upon themselves to implement internal reforms and help revive the nation's flagging economy. Frustrated officials of...

Guaranteed employment: not on your life.
October 19, 1998... Tomohiko Hasegawa is a 23-year-old law graduate working for Matsushita in Osaka. He intends to walk the halls of the giant Japanese conglomerate, which markets its products under the Panasonic and National brands, for another 37 years...

Nobody can in Japan if Kan can't.(politician Naoto Kan)
October 19, 1998... Japan's lumbering political network is in urgent need of fresh blood. Opposition leader Naoto Kan may be just the injection needed to kickstart reforms. It's simple: Japan's economy needs structural reforms. American economists agree....

ASEAN renews agenda on trade.(Association of South East Asian Nations)
October 19, 1998... The Association of South East Asian Nations (ASEAN) has renewed its commitment to economic cooperation despite persistent economic and political tensions. Fifteen long months of crisis have done nothing to quench the group's thirst for...

ASIA FACT FILE.(Statistical Data Included)
October 19, 1998... AUSTRALIA capital: Canberra Population (1997): 18.6 million Currency: Australian dollar CHINA Capital: Beijing Population (1997 est): ...

Asia might exit recession in '99.
October 19, 1998... Most of Asia may move out of recession late next year if China and Japan play their part, according to Access Economics. The forecasting group's assessment was made on the proviso that China does not devalue the yuan and Japan finally...

An apple a day...(physician demographics)(Statistical Data Included)
October 19, 1998... COUNTRY PERSONS PER PHYSICIAN 1975 1985 1996 AUSTRALIA N/A N/A 400 CAMBODIA 16,248 16,489 8120 CHINA 3184 752 629 HONG KONG 1528 1126 715 INDIA...

PAL eyes profit in three years.(Philippine Airlines)
October 19, 1998... Manila--The embattled Philippine Airlines (PAL) could return to profit in three years after resuming operations following a two-week shutdown, according to a senior company official. PAL chief financial officer Mr Jaime Bautista said the...

IN BRIEF.
October 19, 1998... * Hong Kong--Strategic Administrative Region leader Mr Tung Chee Hwa says he will review the government's home ownership scheme, a move which analysts see as a significant step away from a traditional big government approach to housing....

Pen winners from survey.
October 19, 1998... Five people have won MontBlanc pens stemming from Business Asia's recent readership survey. They are: * Mr James White, PI. Indo Reco Asia, Bundall, Queensland. * Mr Greg Duval, Reliance Manufacturing Co, Newstead, Queensland. * Mr...

Zhu has last laugh as Russia derails.(Zhu Rongji)
October 19, 1998... As China's political and economic stocks continue to rise, once-powerful Russia has fallen on hard times. Few people have figured out how to make poker-faced Chinese Premier Zhu Rongji smile, but one sure way to make him scowl is to call...

Asian banks lag behind: Citibank.
October 19, 1998... The failure of Asian banking systems to match the development of individual economies has been a key factor in the region's economic turmoil, according to the managing director of Citibank, Mr Bill Ferguson. He said certain dimensions of...

Risks high, but time to invest.
October 19, 1998... Alex Erskine, vice-president of Citibank Australia(*) argues that it is time to increase investments in Asia, despite the crisis turning out worse than expected Before the collapse of the Thai baht in July 1997, a worst-case scenario for...

THE KING OF THAILAND: Bhumidol Adulyadej.
October 19, 1998... A monarch for the people "A successful monarch must become a living symbol of the country. He must change with the country, but at the same time keep the spirit of the country" -- The King of Thailand, 1982 Few people can name a Thai...

Clinton battles to win talkfest.(Bill Clinton)
October 19, 1998... The rhetoric was strong, the results somewhat less impressive for United States President Bill Clinton at the recent International Monetary Fund and World Bank meetings in Washington. In an effort to stave off a world economic crisis and,...

Canberra, Washington ties need nurturing.(Australia, US)
October 19, 1998... Asia's intensifying strategic and economic problems underline the continued importance of the Australian-American alliance. Historically, most alliances have been "threat-oriented'. However, AUSMIN's (Australia- United States...

Will US maintain top-gun status?
October 19, 1998... The United States has long borne the role of "policeman" in the Asia-Pacific region, but China and Japan may take on heightened security roles. Dr MAREE REID(*) comments The strategic environment in the Asia-Pacific region on the eve of...

Australian legal firms have edge.
October 19, 1998... Australian lawyers operating in Indonesia have an edge over foreign counterparts when it comes to offering advice on privatisation work, according to law firm, Clayton Utz. Mr Peter Fanning, a senior associate of Clayton Utz currently on...

Act now on Asia bargains.
October 19, 1998... A temporary "window f opportunity" exists or foreign firms wanting to expand in ailing Asian economies, according to regional law firm, Deacons Graham & James. However, the opening will not last for long, according to the firm's chief...

KPMG weighing up market conundrum.
October 19, 1998... The task used to be relatively simple for KPMG's Asian Business Group advisors. Australian companies were queuing up to do business in Asia: it was just a matter of telling them which country to enter. Now, there are more variables. ...

Foreign lawyers `equal' in Seoul.(South Korea)
October 19, 1998... Foreign lawyers and law firms will be given an equal footing in doing business in South Korea when the local market related to legal proceedings is fully opened next year, according to a report. English-language newspaper, The Korea Herald,...

SE Asia a law unto itself.(southeast Asia)
October 19, 1998... South East Asia's political and economic landscape has altered dramatically in the past year Legal and accounting firms have had to keep up with the changes Asia's tumultuous economic downturn has heightened demand for lawyers with a...

Mergers business driving Freehill.(Freehill Hollingdale and Page)
October 19, 1998... A heavy workload in the corporate field and mergers and acquisitions (M&A) is driving business for leading Australian law firm, Freehill Hollingdale & Page. The firm had revenue of A$220 million in the past year and expects the strong...

Exports hit by a global slowdown.
October 19, 1998... New Delhi--India's exports slowed to a gain of 4.47 per cent to US$2.78 billion in August, from US$2.66 billion in the same month last year because of the slowdown of global economies and trade, the Ministry of Commerce said. In July,...

Steel woes rock banks.
October 19, 1998... Financial turmoil in South Korea and Russia has battered the world's steel prices, threatening the future of Indian steel companies and the financial institutions that are backing them Financial institutions in India are being weighed under...

Lax property rights hinder investments.
October 19, 1998... Washington--At least 25 per cent of global chemicals and pharmaceutical companies are unwilling to invest in India because intellectual property rights (IPR) protection offered by New Delhi is too weak to allow them to transfer latest and...

Hunt for executives turns to new areas.
October 19, 1998... India's vast business potential and a wealth of people with higher education degrees make the country a gold mine for human resource companies, an industry expert says. Mr David Nicholson, group managing director of human resources firm...

Singapore firm's profits down 80%.
October 19, 1998... * Singapore -- The regional financial crisis has caused an 80 per cent fall in the interim profits of 190 listed Singapore companies to S$660 million (US$385.3 million) compared to S$3.26 billion (US$1.9 billion) a year ago. Of the 190...

Profits a foreign concept in China.
October 19, 1998... Hong Kong -- Making money is too often the exception and not the rule for global companies in China. Coping with overly optimistic demand estimates, mounting competition and ongoing human-resource challenges, more than one-third of foreign...

Three-pronged business plan for Sumitomo.
October 19, 1998... The giant Sumitomo Corporation is counting on a three-pronged strategy to avoid being "sunk" by Japan's recessionary economic environment in the new millennium. Despite pessimism over Japan's economy, one of Sumitomo's chief policy makers...

Chinese power base under fire.
October 19, 1998... Ethnic Chinese have had disproportionate influence in some South East Asian business markets given their relatively small numbers. GANESH SAHATHEVAN says recent turmoil in Indonesia and Malaysia may reduce the power of Chinese business leaders...

Does the IMF have a future?(International Monetary Fund)
October 19, 1998... The International Monetary Fund (IMF) has come under fire from many quarters for its handling of Asia's financial crisis. Asia analysts have become increasingly critical of the Fund's traditional prescriptions for solving economic crises. This...

Food exporters bite back.
October 26, 1998... `... The per capita income (in Japan) is still nearly double Australia's' Potential to expand in Japan A weak Australian dollar and lucrative niche food markets in Japan -- still by far Australia's biggest export market -- should...

Food sector a cut above the rest.
October 26, 1998... Asia's financial crisis has damaged many export industries, but food and beverages are sectors that continue to offer bright spots. ENZO ALLARA, chairman of the Australian Food Council, comments The food and beverage industry is quickly...

Market access still key issue.
October 26, 1998... Market access in Asian nations for Australian food products remains the most significant issue facing the industry, especially in light of the region's financial crisis, according to the Supermarket to Asia Council (STAC). Mr Jim Kennedy,...

Rice a growing success.
October 26, 1998... When you think of rice, you may not automatically think of Australia. From small beginnings, the Australian rice industry is this year celebrating 75 years of rice growing. Rice fields stretch across 200,000 hectares of countryside in...

COUNTRY SNAPSHOT -- SOUTH KOREA.
October 26, 1998... * The reduction in consumer purchasing power will continue to constrain growth in the imported food market in the short term and food imports over the next 2 years are expected to remain subdued until consumer demand recovers. * Bank of...

Bearish outlook on sugar trade.
October 26, 1998... Australia, embracing a bearish view of Asian sugar markets, says demand will be hit by the current economic downturn and currency devaluations. To make matters worse, a flow of Brazilian sugar to the region will keep markets edgy,...

Agrifood `resilient' in Jakarta.
October 26, 1998... Agribusiness remains a potentially strong business sector in Indonesia despite the dire reports of economic malaise emerging from Jakarta, according to a Department of Primary Industries and Energy (DPIE) official. A recent ministerial...

COUNTRY SNAPSHOT -- INDONESIA.
October 26, 1998... * The reduction in consumer purchasing power will continue to constrain growth in the imported food market in the short term and food imports over the next two years are expected to remain subdued until consumer demand recovers. ...

Stakes high in China meat sector.
October 26, 1998... Live cattle exports to Asia have hit dire straits, but some positive news is emerging in the giant Chinese market. With the live cattle export market to Asia in a parlous state, it is little wonder that the local industry is keen to develop...

Wine travelling well Japanese market.
October 26, 1998... Sales of red wine to fashion-conscious young Japanese women are creating a profitable market for prominent South Australian producer, Orlando Wyndham. Mr Andrew Cudmore, the company's regional manager for the Asia-Pacific, said...

COUNTRY SNAPSHOT -- THAILAND.
October 26, 1998... * Based on current trends, Australia's total exports for the current year will match last year's in value. This is quite an achievement as Thai import levels have declined 13 per cent on a calendar-year basis. OPPORTUNITIES *...

In-market role vital in India.
October 26, 1998... Gaining an effective in-market presence in India through direct investment is the biggest challenge for Australian processed food producers trying to establish a long-term presence on the sub-continent, a new report claims. However, the...

Oversupply may hinder wheat sales.
October 26, 1998... Large world wheat stocks and increasing competition in major markets is likely to offset the benefits of a lower dollar for Australian wheat growers, the Australian Bureau of Agricultural and Resource Economics (ABARE) says. ABARE's...

ASIA-PACIFIC CONSUMER LANDSCAPE.(Illustration)(Statistical Data Included)
October 26, 1998... Population State of Main Players Country (million) Developmen Food/Tobacco Australia 18 High Foster's, Castlemaine MNCs(*) China ...

Packaging sleeve cuts food risks.
October 26, 1998... A packaging concept for manufacturers has been developed by Visy Board to increase product protection on shipping containers carrying general merchandise and food. Visy Line is a corrugated sleeve which provides top, side and base...

Better off red than dead in China.(wine marketing)
October 26, 1998... An unsolicited decree by the Chinese Government that red wine is good for one's health could not have come at a better time for the largest distributor of Australian wine in China. Aussino International Foods & Wine -- which is the...

Organic foods catch on, but laws up in air.(Japan)
October 26, 1998... Laws need to be implemented in Japan to ensure international food standards are met for organic food products, according to a Japanese food industry spokesman. Mr Akira Hanawa, representative director of the Japan Organic Information...

COUNTRY SNAPSHOT -- CHINA.
October 26, 1998... * Australia's overall exports to China fell by 3 per cent during the first quarter of 1998 compared with the same period last year. * Accounting for a fifth of the world's population and a growing proportion of global trade, the Chinese...

Food shortages spreading.(Indonesia)
October 26, 1998... Jakarta -- Indonesian government officials have admitted that up to half of the country has been hit by food shortages. Food Minister Mr A.M. Saefuddin told parliament a few weeks ago that 150 out of 308 regencies were facing a food...

Dairy exports likely to beat $2b barrier.
October 26, 1998... Australia's dairy exports are expected to surge past A$2 billion thanks to a lower Australian dollar. The industry has benefited from the weak dollar, which has offset some of the negative news in the region stemming from Asia's financial...

IN BRIEF.
October 26, 1998... * Sydney -- Australian wine producers should target the moderately priced Japanese wine market, according to a leading Japanese retailer. Mr Seiichi Kirima, who heads a chain of more than 50 retail stores in Japan, said most Australian wine...

Geo2 hits paydirt with water.(water purification units)
October 26, 1998... Recent devastating floods in China provided a perfect showcase for an Australian company's water purification units -- leading to a deal being struck with the People's Liberation Army (PLA). Geo2 executive chairman Mr Charles Laycock said a...

World Bank projects in the pipeline.(includes other items)
October 26, 1998... * A spate of World Bank projects in troubled Asian nations represents a chance for Australian companies to seize lucrative global export contacts. Ms Charlene Mahoney, Austrade's Washington-based business development manager working with the...

ASIA FACT FILE.(Illustration)(Statistical Data Included)
October 26, 1998... Where those exports go This week Business Asia examines the top three export destinations for each of the Asia-Pacific nations The figures represent the percentage of total exports that go to the listed countries AUSTRALIA (1997)...

We want a healthy Malaysia: Goh.
October 26, 1998... Singapore and Malaysia have endured a tempestuous relationship since their split in the 1960s. Singapore's Prime Minister GOH CHOK TONG(*) comments on the complex alliance Some people have likened the bilateral relationship between...

A tale of liberalisation, rate cuts, bad loans.(economies of Thailand, Hong Kong, and South Korea)
October 26, 1998... This week's Asia Watch visits three of the region's troubled economies -- Thailand, Hong Kong and South Korea -- to see how they are responding to Asia's turmoil. THAILAND * Deputy Prime Minister Bhichai says Thailand does not want to...