Business Asia articles from September 1999

Business Asia archives from September 1999

Jiang, Clinton seek to heal old wounds.
September 13, 1999... Visit to aid Australian trade Mending soured relations with the United States and an increase in bilateral trade between Beijing and Canberra are two of the major outcomes likely to flow on from President Jiang Zemin's historic visit to...

In brief.
September 13, 1999... * New Delhi -- India's exports in the first four months of fiscal 1999-2000 rose more than 4 per cent from the year-earlier period, confirming a fragile recovery alter a prolonged trade slowdown. The government said merchandise exports rose by...

Seoul does a backflip on chaebol shares cap.
September 13, 1999... The South Korean government plans to re-impose restrictions on the number of shares the nation's top 30 conglomerates can own in affiliates as part of a continuing battle to streamlime the nation's chaebol. The restriction, which takes...

ASIA FACT FILE.(Statistical Data Included)
September 13, 1999... Hi-tech trade In this edition's Fact File, we list the percentage of high-technology exports as a proportion of overall manufactured exports for Asia-Pacific countries. AUSTRALIA Percentage of manufactured exports 39% ...

Asia, Eastern Europe flunk Y2K test.
September 13, 1999... South East Asia and Eastern Europe are the emerging market regions most vulnerable to millennium bug disruption, Credit Suisse First Boston (CSFB) says. The investment bank also said its survey of 250 companies in 18 emerging market...

IMF warning to Jakarta.
September 13, 1999... Bank Bali a threat to budget The International Monetary Fund (IMF) has upped the ante against Indonesian President B.J. Habibie's government over the Bank Bali scandal with a veiled threat to suspend further financial aid if the matter is...

Asian brands don't rate.
September 13, 1999... Japanese brands such as Sony, Toyota and Honda have become household names around the world, but other Asian business symbols are struggling to enter the consciousness of consumers. In a survey by Interbrand, the three Japanese brands are...

Japan tuning in to on-line music.
September 13, 1999... The rapid spread of Internet use in Japan is waking major companies up to the idea of on-line music, a medium that is already rocking fans in America. While there are still major question marks over how to distribute and charge for...

Time ripe for Asia to adopt joint IT blueprint.
September 13, 1999... Asian nations must avoid the temptation to compete against each other if the region is to become an information technology hub in the next millennium, a leading consultant says. Terry Cutler, deputy chairman of the Australian Information...

Banks still in a mess -- Morgan.
September 13, 1999... Asia's recovery looks increasingly sustainable but slow reform in the banking sector is still a big risk, Morgan Stanley Dean Witter's top Asia strategist says. "The banking system in many countries in the region is, quite frankly, a...

Japan cuts company hurdles.
September 13, 1999... Conditions for foreign companies in Japan are getting easier thanks to structural reforms and work environment changes, according to Japan External Trade Organisation (JETRO) managing director Hiroshi Nakano. In an upbeat assessment...

Business gurus home in on Pudong.
September 13, 1999... On the 50th anniversary of the founding of the People's Republic of China on October 1, executives from Fortune 500 companies are expected to gather at the Pudong district in Shanghai to explore business opportunities. Microsoft chairman...

A chance to reflect on Mao.
September 13, 1999... For a man fond of grandeur, one suspects the late Mao Zedong would approve of the party being planned in China for October 1. More than 130,000 performers will parade through the refurbished Tiananmen Square, while the People's Liberation...

Beijing gets an overhaul for birthday.
September 13, 1999... Beijing, one of the dirtiest cities in the world, is getting a facelift and trying to clear up its skies ahead of national day celebrations on October 1. The Beijing Public Security and Traffic Administration has ordered 25 polluters,...

WTO entry not far off -- Official.
September 13, 1999... The chief negotiator on China's entry into the World Trade Organisation has been quoted as saying the day Beijing joins the WTO "shouldn't be far away". Long Yongtu, vice-minister of foreign trade and point man for China's WTO...

Celebrations one out of the box.
September 13, 1999... The grand celebrations in Beijing for the 50th anniversary of the founding of the People's Republic of China will be broadcast across the mainland on both high definition and regular television signals. Big deal, you say. Well it is...

Indonesian food offers a ray of hope in Asia.
September 13, 1999... Indonesia holds some of the most promising agribusiness opportunities in the region, according to a Jakarta-based trade commissioner. Austrade's Tony Burchill, who was in Australia last month drumming up support for the "Indonesia Food and...

Aussie beef comes up smelling roses.
September 13, 1999... Beef exports to Japan are a shining light for Australia's trade portfolio. RANDOLPH RAMSAY examines the path to success Australia conjures up a number of images in Japan -- kangaroos, beaches, koalas and a somewhat less exotic icon: meat....

Asia dips, but world exports rise.(Australian food industry)
September 13, 1999... Australian food exports to Asia dropped slightly in 1998-99 but overall sales to the world rose by 4 per cent, according to the latest statistics from Supermarket to Asia. Total food exports to Asia, which were A$10,511 million in 1997-98,...

Tea lovers turning to new leaf.
September 13, 1999... First it was sake and now it is green tea. Australia is poised to start selling green tea to the Japanese market, just months after the announcement of a similar deal involving that other favourite Japanese beverage, sake. Murrindindi...

Ecolabels sell `green' exports.
September 13, 1999... Tasmanian horticultural products will get a new identity in Asia courtesy of a new "ecolabelling" scheme between exporters and the Department of Primary Industries, Water and Environment. The ecolabelling pilot scheme aims to convey to...

State targets hi-tech trade.(South Australia)
September 13, 1999... South Australia will focus on information technology industries in the new millennium as part of its continuing push into Asia, Trade and Industry Minister Iain Evans says. The State will also expand its interests in sectors such as food...

Exporters fish for new markets.(Statistical Data Included)
September 13, 1999... GEOFF UPTON(*) comments on South Australian export initiatives into Asia South Australian exporters deliver to 34 different markets and are not as dependent on Asia as some parts of Australia. However, export sales to China fell by 8.7...

SA helps region fix water, waste issues.(South Australia)
September 13, 1999... High-technology solutions and strong government relationships are helping South Australia's water corporation win major projects in the Asia-Pacific region. SA Water executive general manager of water industry and business development,...

Clipsal boss switches on to Olympics.
September 13, 1999... Gerard Industries, makers of Clipsal electronic accessories and one of the leading brands in Asia, hopes to increase its home-country profile via a Sydney 2000 Olympics sponsorship. The sponsorship, the biggest yet for Clipsal, involves an...

Barossa fuels $1b export goal.
September 13, 1999... A robust wine industry has helped South Australia overcome the damaging economic effects of Asia's financial crisis, according to South Australian Premier John Olsen. The Premier praised the Barossa Valley for its key role in helping the...

E-commerce strategy pays off for Camtech.
September 13, 1999... Adelaide-based company Camtech has tapped into Asia's burgeoning e-commerce needs through a new agreement to provide hi-tech Internet payment gateways in Malaysia. Camtech, in tandem with Internet services company Alam Teknokrat, will...

Time ripe to act on IT boom.
September 13, 1999... South Australian companies need to embrace the global e-commerce revolution or be left in its wake, a leading information technology manager says. Alan Scott, a former EDS Australia state manager for South Australia, said e-commerce was...

Voting deadline nears.(Asia's business hotel awards)
September 13, 1999... * Voting is nearing the October 5 deadline for the Best Business Hotels in Asia Awards. In this and the next edition of Business Asia, the remaining finalists for each country will be profiled. In this edition we examine the finalists from...

Hotels up as Asians head Down Under.
September 13, 1999... Asian visitors are flocking to Australian shores again as economic conditions improve in the region, a leading property consultant has found. Jones Lang LaSalle Hotels (JLL) has forecast a promising future for the Australian hotel industry...

Hotel news.
September 13, 1999... More men than women sleep in the nude in hotel rooms, it has been found. The Sleep Inn hotel chain has burrowed under the covers to survey the sleep secrets of hundreds of guests. The research reports that one in 10 hotel guests sleeps...

The blueprint for controversy.(capital controls used by the Malaysian government)
September 13, 1999... Following are the key facts about capital controls imposed by the Malaysian government. CONTROLS ON FOREIGN PORTFOLIO CAPITAL For ringgit assets held for less than 12 months, the proceeds from their sales have to be credited to...

Jury still out on controls.(Malaysia)(Interview)
September 13, 1999... Malaysian Prime Minister Mahathir Mohamad says capital controls have been a winner, but his critics are not so sure. Miracle cure? Or plain luck? One year after Malaysia imposed capital controls, a debate still rages over their impact...

Mahathir gains from war of words.(Malaysia Prime Minister Mahathir Mohamad)(Interview)
September 13, 1999... Following are some notable quotations on Malaysia's capital controls imposed in September 1998. * "Malaysia has chosen to become a heretic, a pariah if you like." -- Prime Minister Mahathir Mohamad, September 1998. * "This is the...

ON THE STRAIGHT AND NARROW.(Statistical Data Included)
September 13, 1999... Business people's perceptions on the level of corruption in world countries Score Deviation Used Denmark 10.0 0.7 9 Canada 9.2 0.5 9 Singapore 9.1 1.0...

Nissan bets on reform.
September 13, 1999... The president of Nissan Motor says the firm will announce a "drastic" restructuring plan in October, adding he is more confident the troubled automaker will return to profitability next business year. Yoshikazu Hanawa also said he had...

Singapore seeks foreign workers.
September 13, 1999... Singapore will increase spending, introduce tax breaks for staff training and step up efforts to attract talented foreigners as part of the government's latest bid to make the island more competitive. Manpower 21, a government report based...

Wool output drops along with producers.
September 13, 1999... * Melbourne -- Wool output in Australia, the world's largest wool producer, will drop in the year ending mid-2000 to its lowest level in 42 years, reflecting declining profits for producers and reduced demand for the fibre. The Australian Wool...

ASIA WATCH.
September 13, 1999... Latest news from the region * Hong Kong Hong Kong's government has accepted all four measures recommended by a commission on innovation and technology, opening the way for expanded programs and an easing of limits on immigrants from...

Lessons from the crisis.(Asia's financial crisis)
September 13, 1999... The Asian Development Bank(*) says simple lessons have emerged from the region's financial crisis. The real question is: Will countries learn, or make the same mistakes again? Notwithstanding some recent positive developments, it is perhaps...

Flying toward the next century.
September 13, 1999... `Economic pointers in Asia suggest a turn for the better over the next 12 months... You can expect Cathay Pacific to head into the new millennium with fresh vigour.' After decades flying from one of Asia's most constrained airports,...

The leaders of Asia ...
September 13, 1999... Never before have politicians in the Asia-Pacific region been under such international scrutiny. Business Asia rates the performance of Asia-Pacific leaders over the past year. THAILAND Chuan Leekpai Rating... 7 Has won acclaim...

On their knees.
September 13, 1999... With any crisis comes a list of casualties. Following are four identities who have hit rocky ground in the past year. Watch this space for some more big falls in the next year. Kim Woo Choong Chairman and founder, Daewoo Group Age:...

Asia's 20 Most Influential Figures.
September 13, 1999... Power is not just about money or fancy titles. It's about connections, responsibilities and achievements. At Business Asia, we regard the following 20 people as the most influential in the region. Yes, it's subjective and, yes, some worthy...

Australia.(people on the rise)(Statistical Data Included)
September 13, 1999... ON THE RISE: JAMES PACKER Chairman, Publishing and Broadcasting Ltd Age: 31 Contact: 61-2-9965-2762 James Packer has become somewhat of a celebrity. The heir to the massive Packer empire often makes the headlines for his personal...

China.(People)(Statistical Data Included)
September 13, 1999... Li Peng Chairman, National People's Congress Age: 70 Education: Yanan Institute of Natural Sciences; Moscow Power Institute; Zhangjiakou School of Industry Li Peng, the second most senior official in China and head of the...

Hong Kong.(People)(Statistical Data Included)
September 13, 1999... Philip Chen Chief Operating Officer, Cathay Pacific Airways Born: 1955 Contact: 852-2747-5210 In the past two years, Philip Chen, the first ethnic Chinese to be named chief operating officer of Cathay, has guided the airline through...

India.(People)(Statistical Data Included)
September 13, 1999... ON THE RISE: ANIL AMBANI Managing Director, Reliance Industries Age: 40 Contact: 91-22-283-633 Education: MBA, Wharton School of Business, University of Pennyslvania; Bachelor of Science, Bombay University Like his father...

Indonesia.
September 13, 1999... Amien Rais Chairman, National Mandate Party; Professor, Gajah Mada University Age: 55 Education: Gajah Mada University; University of California; George Washington University Rais, a favourite among Jakarta's urban intellectuals,...

Japan.
September 13, 1999... Masayoshi Son Chairman, Softbank Corp Age: 42 Education: University of California Like many of the great minds of our time, Masayoshi Son has a one-line philosophy which drives all of his business dealings -- "The Internet will...

Malaysia.
September 13, 1999... Daim Zainuddin First Minister, Finance, Federation of Malaysia, Executive Director, Malaysian National Economic Action Council Age: 61 Education: University of California, Barrister-at-Law, Lincoln's Inn Daim Zainuddin, brought...

Philippines.
September 13, 1999... Lucio Tan Executive Director, Dynamic Holdings; CEO Philippines Airlines; Chairman, Asia Brewery Age: 65 Education: Far Eastern University Contact: 852-2881-5221 Tan, whose billion-dollar empire includes tobacco, alcohol and...

Singapore.
September 13, 1999... Wee Cho Yaw Chairman & CEO, United Overseas Bank; Chairman, SingaporeLand Age: 70 Contact: 65-533-9898 Wee Cho Yaw, a 40-year business veteran, will need to use all his knowledge and skills to adapt to Singapore's changing...

South Korea.
September 13, 1999... Chung Ju Yung (and family) Honorary chairman, Hyundai Group Age: 83 Education: Completed 6th grade Contact: (82 2) 746 1114 Chung is the Legend of Korea's Legendary chaebol, or conglomerates. While the chaebol are now under...

Taiwan.
September 13, 1999... Stan Shih Chairman and co-founder, Acer Group Age: 54 Education: National Chiao Tung University Contact: 886-3-577-0707 Stan Shih, one of Taiwan's most influential and respected business leaders, has not had the best of years....

Thailand.
September 13, 1999... Tarrin Nimmanahaeminda Finance Minister, Member of Thai Parliament Education: Stanford University; Harvard University Contact: 886-2-2722-2002 Thailand's exports are rising, manufacturing activity is picking up and consumers are...

Vietnam.
September 13, 1999... Le Kha Phieu General Secretary, Communist Party of Vietnam Age: 67 Education: Military University, Vietnam While Le Kha Phieu has delivered much-needed stability to Vietnam in his two-year reign, he has failed to deliver...

Asia's Rich List.
September 13, 1999... Country US$ mil Source of wealth Li Ka Shing Hong Kong 12,700 real estate, telcos Lee Shau Kee Hong Kong 11,100 real estate Kwok Brothers Hong Kong 9,700...

ONE TO WATCH BEYOND 2000: SUPACHAI PANITCHPAKDI.
September 13, 1999... Thailand's Deputy Prime Minister; Minister of Commerce Age: 53 Education: Netherlands School of Economics Supachai is a fighter. He and former New Zealand Prime Minister Mike Moore engaged in an eight-month battle to become...

Malaysia counts on speedy growth.
September 30, 1999... Malaysia is prepared to invest in the BIMP-EAGA region to speed up growth in the region, according to the country's First Finance Minister Daim Zainuddin. Responding to criticisms of slow growth in the region, Daim suggested the BIMP-EAGA...

Trade standoff over Timor.
September 30, 1999... Indonesia threatens key export sectors Business leaders are trying to salvage relations with Indonesia as fallout from Australia's peacekeeping role in East Timor starts to harm trade relations. Australia has played down the trade...

Working class.(Statistical Data Included)
September 30, 1999... In this edition's Fact File, we look at Asia-Pacific countries' labour force growth The figures record average annual growth (1990-98) and female workforce percentages (1998). AUSTRALIA Annual avg 1.6% Female % 43% CHINA...

Quake cuts Taiwan growth.
September 30, 1999... Chip exports to lose ground Taiwan's giant earthquake has temporarily knocked out the island's semiconductor industry, costing US$350 million in lost production and pushing up the price of chip products worldwide. Analysts say the...

Timor clouds Jakarta vote.
September 30, 1999... Megawati Sukarnoputri remains the front-runner to form a coalition government in Indonesia after November presidential elections, while military strongman General Wiranto's hopes appear to have been "fatally compromised" internationally by...

Asia needs equity injection.(Statistical Data Included)
September 30, 1999... Increasing foreign direct investment (FDI) into Asia is a more urgent task than pursuing bank reforms, according to one of Asia's most respected business figures. Victor Fung claims a preoccupation with restructuring Asia's banking system...

Leaders support new regional food system.
September 30, 1999... Pacific Rim leaders have agreed to develop a regional food system and strengthen economic and technical cooperation among member economies to make globalisation "become an opportunity for all". These were among the measures spelled out by...

WTO issue causes angst.(World Trade Organization)
September 30, 1999... APEC leaders have called for the early admission into the World Trade Organisation (WTO) of China, Taiwan and two other members currently shut out of the WTO. Of the 21 APEC economies, only mainland China, Taiwan, Russia and Vietnam have...

Car e-mails just around the corner.
September 30, 1999... Gary Tooker reckons it's just a matter of time before we are sending each other e-mails... from our cars. He likes the idea, which is natural given his position as vice-chairman of the giant telecommunications company, Motorola, in the...

What they said.(Quotes from Asia-Pacific Economics Cooperation summit)
September 30, 1999... Following are some of the quotable quotes from APEC '99: "This is a much happier occasion than the last APEC. The uniform for the business people [yachting gear] illustrates that. Last year you might have met in straitjackets." -- US...

Action plans fail the test.
September 30, 1999... Significant steps taken by APEC members towards achieving the Bogor goals are not fully reflected in members' Individual Action Plans (IAPs), according to a review by the Pacific Economies Cooperation Council (PECC). IAPs are the mechanism...

Corruption, petty politics still hurting Korea.
September 30, 1999... Eliminating corruption and reforming the political sector are prerequisites for sustainable economic growth in South Korea, according to President Kim Dae Jung. While the need to restructure the nation's economy and debt-laden...

Time to bite the bullet.(Asian-Pacific Economic Cooperation Summit meets)
September 30, 1999... APEC's standing gained a much-needed shot in the arm in Auckland, but CAMERON COOPER suggests the forum must expand or wither Oddly enough, a political and humanitarian tragedy in East Timor may have saved the APEC Summit -- a talkfest that...

Timor puts Top End in the spotlight.(Darwin, Australia)(Statistical Data Included)
September 30, 1999... Darwin's long-stated goal of being the "gateway to Asia" is coming true as the tragic events of East Timor unfold. CAMERON COOPER speaks to the man responsible for the NT's engagement with Asia The locals seem as laidback as ever. The...

Airport plan aids NT logistics role.
September 30, 1999... Australian Transport Minister John Anderson has approved a master plan for the privatised Darwin Airport in another boost to the Top End's stated goal to act as a logistics hub for the region. Northern Territory Airports operates the civil...

Top finance minds heading toward Top End for talks.
September 30, 1999... Some of the region's top financial names will be in Darwin this month as part of the Northern Territory-BIMP-EAGA Finance and Investment Conference. Speakers confirmed for the conference include East ASEAN Business Council director Paul...

Profile of BIMP-EAGA.
September 30, 1999... * The Brunei Darussalam, Indonesia, Malaysia, Philippines-East ASEAN Growth Area (BIMP-EAGA) Initiative was formally endorsed by the respective national governments in March, 1994. * Geographically, BIMP-EAGA comprises: Brunei; East and...

Northern Focus: In Brief.
September 30, 1999... * Davao City -- The Philippines' Davao City is aggressively being promoted as a major international cargo hub in the BIMP-EAGA region. The strategic location of Davao City makes it a potential transhipment port and load centre for foreign...

Darwin in front line, but open for business.
September 30, 1999... Government officials in Darwin have moved to reassure tourists and investors from Australia and overseas that the city is open for business despite initiatives associated with East Timor. Tourism Minister Mike Reed said it was "business as...

Timor issue a threat to banks, trade flow.
September 30, 1999... Indonesia's bank restructuring plans are under threat and the cost of rebuilding the nation's banks may rise even more due to the violence in East Timor, Moody's Investors Service says. Threats of nations and organisations withdrawing aid...

Indonesian cement for East Timor.
September 30, 1999... Indonesia's State Minister for Investment Marzuki Usman has called on the state-run cement producer, PT Semen Kupang, to export to East Timor in an effort to help the former Portuguese colony rebuild the war-torn region. "East Timor will...

Beattie steers drive for growth.(Peter Beattie, Queensland State Premier)
September 30, 1999... Queensland -- best known for its sun and beaches -- is expanding a campaign to sell its business and hi-tech credentials to Asia. State Premier PETER BEATTIE comments Queensland is entering the new millennium armed with the human, natural...

New agency to put food, fibre technology on the map.
September 30, 1999... Queensland is aiming to become a world leader in food and fibre technologies with the establishment of a new A$100 million research agency. To be known as the Agency for Food and Fibre Sciences (AFFS), the new body will pull together the...

Source of migrants changing.
September 30, 1999... Taiwan, the main source of Queensland's skilled business migrants for nearly a decade, has finally been overtaken by South Africa, the latest figures reveal. While Taiwan has been superseded, Indonesia has made a strong surge and is now...

IT plan to transform Qld into hi-tech hub.(Queensland, Australia)
September 30, 1999... Queensland is not about to lag behind Australia's other states in the race to gain a share of the growing information technology pie, with new measures announced last month to foster the State's communication and information industries. ...