AsiaPulse News articles from August 2002

AsiaPulse News archives from August 2002

OPEN - ASIA PULSE INTERNATIONAL - AUGUST 1, 2002.
August 1, 2002... Good Morning. This is the Asia Pulse International service of business intelligence, news, tenders and expert commentary on the economics of Asia provided by Asia Pulse Pte Ltd (Asia Pulse). Asia Pulse reserves all rights including...

FOREX - AUSTRALIAN DOLLAR OPENS WEAKER - AUG 1, 2002.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - The Australian dollar opened weaker as major currencies took centre stage overnight, although dealers said there is further upside to be gained. At 0700 AEST, the Australian dollar bought US$0.5431/36 from...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH: - Whales frolic in Sydney Harbour, delighting hundreds of onlookers. - Australian wool sales fall 17 per cent in the past year; Australians spent a...

AUSTRALIA'S AMP STILL STRONG DESPITE RATINGS DOWNGRADE: S&P.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - Financial services group AMP Ltd (ASX:AMP) was still in a strong financial position despite copping a ratings downgrade, ratings agency Standard & Poor's said yesterday. On Monday, AMP warned it could struggle to...

AIRLINES COULD OPERATE OUT OF FORMER ANSETT TERMINAL BY SEPT.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - Airlines including discount carrier Virgin Blue could be operating out of the former Ansett terminal at Sydney Airport by September, the airport's owners say. Sydney Airport Corporation Limited (SACL) said it had...

AUSTRALIA'S GENERAL PROPERTY TRUST DECLARES H1 DIVIDEND.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - General Property Trust today reported a distribution of 10.1 cents per share for the six months to June 30, 2002. It said this reflected the continuing positive trend in the Trust's underlying earnings and...

TELSTRA LIFTED ITS GAME IN COUNTRY AREA IN RECENT YEARS: CEO.
August 1, 2002... CANBERRA, Aug 1 Asia Pulse - Telstra Corporation Ltd (ASX:TLS) had significantly lifted its game in country areas in recent years, chief executive Ziggy Switkowski said today. Telstra's board is meeting in Alice Springs for the Year of the...

AUSTRALIA'S AWB EXPECTING BELOW AVERAGE WHEAT HARVEST IN 02/03.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - AWB Ltd (ASX:AWB) said it expected a below average wheat harvest of 18 to 20 million tonnes in the 2002/03 financial year. The national wheat exporter said winter crop planting was impacted by prolonged dry...

OPTUS & TELSTRA TO INTRODUCE MULTIMEDIA MESSAGING SERVICES.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - Optus will next month launch a new mobile multimedia messaging service (MMS) aimed at helping it quadruple the revenue impact of data messaging by 2005. Optus' main rival Telstra Corp Ltd (ASX:TLS) also announced...

AUSTRALIA'S HERITAGE BUILDING SOCIETY POSTS 29% RISE IN PROFIT.
August 1, 2002... BRISBANE, Aug 1 Asia Pulse - Queensland's largest building society Heritage Building Society booked a 29 per cent jump in net profit for 2001/02 and is confident it will keep growing and attracting members. The Toowoomba-based Heritage...

WESTERN AUSTRALIA'S WEST ANGELAS PROJECT WINS SIX CONTRACTS.
August 1, 2002... MELBOURNE, Aug 1 Asia Pulse - The Rio Tinto Ltd-backed West Angelas iron ore project in Western Australia has reached a key milestone, with six major customers signing off on long-term sales contracts. Robe River Iron Associates, the joint...

ANALYSTS WARN BHP & RIO TINTO OF RISKS FROM SA NATIONALISATION.
August 1, 2002... MELBOURNE, Aug 1 Asia Pulse - Analysts have warned of BHP Billiton (ASX:BHP) and Rio Tinto's increased political risk profile amid details of a radical South African plan suggesting the part nationalisation of the country's mining assets. ...

CHINA'S WEST-EAST GAS PROJECT TO BOOST CHEMICAL INDUSTRY.
August 1, 2002... BEIJING, Aug 1 Asia Pulse East China will enjoy high quality natural gas at a price of 1.29 yuan (16 US cents) per cubic meter next year after the west-east gas transmission project goes into operation, according to experts from the State...

AUSTRALIA'S MACARTHUR COAL HOPING TO BECOME THREE MINE COMPANY.
August 1, 2002... BRISBANE, Aug 1 Asia Pulse - Junior miner Macarthur Coal Ltd (ASX:MCC) is hoping to become a three mine company before long. Managing director Ken Talbot said last night that growth for Macarthur - which is currently mining its 50 per cent...

AUSTRALIAN BUILDING SOCIETY IMB POSTS RECORD 2001-02 PROFIT.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - Australian building society IMB Ltd, has announced record profits and asset growth but said it had no plans for demutualisation or a listing on the Australian Stock Exchange. IMB recorded a net profit of $A10.5...

AUSTRALIA'S GRAINCORP IN JOINT BID TO BUY GOODMAN FIELDER ASSETS.
August 1, 2002... MELBOURNE, Aug 1 Asia Pulse - Bulk commodities handler GrainCorp Ltd (ASX:GNC) showed its hand today with a joint bid to buy the Australian milling assets of the nation's largest food company, Goodman Fielder Ltd. GrainCorp has teamed up...

INSURANCE AUSTRALIA GROUP EXPECTING US$8-21 MLN FY LOSS.
August 1, 2002... MELBOURNE, Aug 1 Asia Pulse - Insurance Australia Group (IAG) (ASX:IAG) yesterday warned that it expected to record a full year loss of between A$15 million (US$8.12 million) to A$40 million (US$21.66 million) because of the "worst performance"...

UNOTEL FORMS PARTNERSHIP WITH MICROS-FIDELIO ASIA PACIFIC.
August 1, 2002... (Full text of a statement. Contact details below.) COLUMBIA, Md., July 31 /PRNewswire-FirstCall-AsiaNet/ -- MICROS-Fidelio Asia Pacific, a subsidiary of MICROS Systems, Inc. (Nasdaq: MCRS), a leading provider of information technology...

ANGLOGOLD SLASHES HEDGE BOOK AS GOLD PRICE OUTLOOK IMPROVES.
August 1, 2002... PERTH, Aug 1 Asia Pulse - South African gold miner AngloGold Ltd (ASX:AGG) has again slashed its hedge book as the medium and long-term prospects for the gold price improve. AngloGold reduced its hedge book by 2.4 million ounces in the June...

AUSTRALIA'S SPINIFEX GOLD TO BOOST ACTIVITY IN TANZANIA PROJECTS.
August 1, 2002... PERTH, Aug 1 Asia Pulse - Spinifex Gold (ASX:SPX) yesterday said it will lift the level of activity in its three Tanzanian gold projects. The Perth-based explorer, which is listed on the Australian and German stock exchanges, said its...

BANKS TO SUPPORT AUSTRALIAN FARMERS THROUGH DROUGHT: MINISTER.
August 1, 2002... BRISBANE, Aug 1 Asia Pulse - Major banks said they were willing to continue to support farmers through the current drought, Queensland Primary Industries Minister Henry Palaszczuk said. Mr Palaszczuk said he had met representatives of the...

STOCKS - AUSTRALIAN SHARES OPEN WEAKER - AUG 1, 2002.
August 1, 2002... BRISBANE, Aug 1 Asia Pulse - The Australian share market opened slightly weaker, with banking stocks and News Corp failing to prop up the broad market index, despite a better night on Wall Street. The benchmark S&P/ASX 200 index opened 3.2...

PAKISTAN NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... ISLAMABAD, Aug 1 Asia Pulse - Highlights of today's newspapers: DAWN: - India rejects Association of Southeast Asian Nations (Asean) talks call. - British news anti-terror law suffers setback. - Delhi flayed for remarks...

AUSTRALIA'S PASMINCO SMELTERS POST STRONG JUNE QUARTER RESULTS.
August 1, 2002... PERTH, Aug 1 Asia Pulse - Pasminco's (ASX:PAS) Port Pirie and Hobart smelters have posted strong June quarter results as the company's creditors prepare to vote on a proposed restructure and Australian Stock Exchange relisting. Pasminco...

TEN INVESTORS SHOW INTEREST IN BUYING PAKISTAN STATE OIL STAKES.
August 1, 2002... ISLAMABAD, Aug 1 Asia Pulse - Pakistan's Minister for Privatisation Altaf Salim said he is satisfied with the investors who have submitted expressions of interest for stakes in Pakistan State Oil. At least 10 investors have shown an...

WORLD BANK TO CONTINUE SUPPORT FOR PAKISTAN'S REFORMS.
August 1, 2002... ISLAMABAD, Aug 1 Asia Pulse - The World Bank will continue to support Pakistan in energy sector, financial and infrastructure reforms over the medium term through policy level services as well as financial assistance. The International...

KOREAN GOVT URGED TO ALLOW STARTUPS ACCESS TO R&D FUNDS.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Investor confidence in venture startups has collapsed so rapidly since the outbreak of a series of scandals involving venture businesspeople that newcomers are having difficulties getting funds for new businesses. ...

ADB TO PROVIDE US$150 MLN DEVELOPMENT OF ROADS IN BALOCHISTAN.
August 1, 2002... ISLAMABAD, Aug 1 Asia Pulse - The Asian Development Bank will give approximately US$150 million to the Balochistan Road Development Sector Project during 2003. An initial technical assistance grant of US$0.5 million has already been...

KOREAN NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Highlights of today's newspapers: DONG-A ILBO - Parliamentary veto of PM-designate Chang Sang likely to spur `lame duck' President Kim DJ - U.S., N.K. agree to resume dialogue at bilateral meeting of...

KOREA'S FSS UNCOVERS ILLEGAL CREDIT CARD PRACTICES.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - The Financial Supervisory Service (FSS) today said it had cracked down on 121 companies for illegal activities involving the issuing of credit cards and payment of overdue loans. The FSS last month investigated and...

TAIWAN'S INT'L BALANCE OF ACCOUNTS REGISTERS RECORD SURPLUS.
August 1, 2002... TAIPEI, Aug 1 Asia Pulse - Taiwan's international balance of accounts registered a surplus of US$16.8 billion for the second quarter of this year, setting a record high for a single quarter, according to statistics released by the Central Bank...

PRIVATIZATION PLAN FOR KOREA POWER ENGINEERING SUSPENDED.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Privatization plans for Korea Power Engineering Co., an affiliate of Korea Electric Power Corp. (KEPCO) that was to be privatized along with other KEPCO affiliates, have been suspended indefinitely. The Ministry...

TAIWAN, US SIGN FISHERY COOPERATION MEMORANDUM.
August 1, 2002... TAIPEI, Aug 1 Asia Pulse - Taiwan and the United States on Tuesday signed a fishery cooperation memorandum, demonstrating that the two countries will upgrade the level of their fishery exchanges and have closer cooperation on international...

TAIWAN TRADE CENTER OPENS IN TORONTO.
August 1, 2002... Toronto, Aug 1 Asia Pulse - The Taiwan Trade Center in Toronto opened Tuesday with a ceremony presided over by Sheu Ke-sheng, vice chairman of the China External Trade Development Council. Sheu noted that Taiwan is Canada's ninth-largest...

PAKISTAN'S EXPORTS TO SAUDI ARABIA UP 21% IN JULY-MAY, 2001/02.
August 1, 2002... KARACHI, Aug 1 Asia Pulse - Pakistan's total exports to Saudi Arabia reached US$293 million during July-May 2001-2002, showing a growth of 21 per cent over the US$52 million in the same period in the prior year. According to the Export...

STOCKS - SEOUL SHARES OPEN WEAKER - AUG 1, 2002.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Seoul stocks stayed weak Thursday despite stabilizing U.S. markets. The Korea Composite Stock Price Index (KOSPI) stood at 714.29 as of 9:30 a.m., down 3.70 points or 0.51 per cent from Wednesday's close. ...

TAIWAN'S HON HAI PLANS TO SET UP TFT-LCD PLANT IN HSINCHU.
August 1, 2002... HSINCHU, Aug 1 Asia Pulse - Electronics giant Hon Hai Precision Industry (TSE:2317) has submitted an application to the Hsinchu Science-based Industrial Park Administration for an eight-hectare site to build a TFT-LCD (thin-film-transistor...

JAPANESE ENCEPHALITIS MOSQUITOES SPREADING THROUGH KOREA.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - The National Institute of Health (NIH) today said the number of mosquitoes carrying Japanese encephalitis, which had remained steady until June, has been rising sharply since early last month. The NIH, which has...

JAPANESE MORNING NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Highlights of the morning edition of the Nihon Keizai Shimbun (Nikkei) today: - Telecom Council Proposes Halving NTT Interconnection Fee - FSA Mulls Permanent Protection Of Demand Deposits - Dai Nippon To...

CHAEBOLS ASKED TO SUBMIT MORE DATA ON INTER-SUBSIDIARY DEALS.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - The Fair Trade Commission (FTC) today said it has asked the nation's six biggest business groups to present documents of all kinds by Saturday, so they can expand their investigation into alleged dealings among chaebol...

JAPAN'S SKYNETASIA LAUNCHES MIYAZAKI-HANEDA FLIGHTS.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - SkynetAsia Airways Co. will offer flights between Miyazaki Prefecture and the Tokyo International Airport at Haneda today, making it the third new airline to provide services to and from Haneda after Skymark Airlines...

INDONESIAN NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... JAKARTA, Aug 1 Asia Pulse - Highlights of today's newspapers: THE JAKARTA POST: - The government said on Wednesday it would purchase a 20 percent stake in PT Kaltim Prima Coal (KPC), dashing the hopes of the East Kalimantan provincial...

JAPAN'S TOHO, PIA TEAM TO SELL RESERVED-SEAT MOVIE TICKETS.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Toho Co. (TSE:9602) and Pia Corp. (TSE:4337) on Wednesday announced that starting at the end of this year they will link their seat management systems and sell reserved-seat movie tickets through Ticket Pia outlets...

INDONESIA'S 2002 STATE BUDGET BEING IMPLEMENTED AS EXPECTED: IMF.
August 1, 2002... JAKARTA, Aug 1 Asia Pulse - International Monetary Fund (IMF) deputy director for the Asia Pacific Daniel Citrin yesterday said it appeared Indonesia's 2002 State Budget was being implemented as expected. "We are going to assess all its...

INDONESIAN TEXTILE BODY PREDICTS 10 PCT FALL IN ANNUAL EXPORTS.
August 1, 2002... JAKARTA, Aug 1 Asia Pulse - The Indonesian Textile Association (API) predicted a ten per cent fall in textile and garment exports at US$7.2 billion this year. API executive Indra Ibrahim said the decline could be seen from the fact that...

JAPAN'S MEDICAL SPENDING FELL IN FY2000 DUE TO NURSING INSURANCE.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Japanese people spent 30.35 trillion yen in total medical expenses for all of fiscal 2000, a year-on-year decline of 1.9 per cent, the Health Ministry said Wednesday. This marks the first time since the Health...

VIETNAMESE NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... HANOI, Aug 1 Asia Pulse - Highlights of today's newspapers: QUAN DOI NHAN DAN: - By July 18, the Ministry of Planning and Investment had licensed to 345 foreign direct investment projects with total registered capital of nearly US$594...

MITSUBISHI CORP TO ACQUIRE S AFRICA'S HERNIC FERROCHROME.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Mitsubishi Corp. (TSE:8058) plans to take a controlling interest in South African mining company Hernic Ferrochrome (Pty) Ltd. by raising its current 9.35 per cent stake to more than 53 per cent. This marks the...

RENAULT SAMSUNG SALES UP 30.4 PCT IN JULY.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Renault Samsung Motors said Thursday that sales of SM5 passenger cars reached 9,223 in July, up 30.4 per cent from a year earlier. The July sales, however, are down 5.9 per cent from June. The aggregate sales...

BOOM YEAR PREDICTED FOR JAPAN'S DIGITAL CONTENT MARKET.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Driven largely by demand for DVD and mobile phone content, the domestic market for music, games and other digital content is expected to be worth 1.88 trillion yen (US$15.68 billion) this year, an increase of 12.1 per...

JAPAN'S RENOWN TO RECORD NARROWER LOSS FOR FY02 H1.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Renown Inc. (TSE:8021) says it will likely record a consolidated operating loss of around 500 million yen (US$4.17 million) for the fiscal half ended Wednesday, narrower than the year-earlier loss of 3 billion yen and...

MIRANT CORP. PLANS TO SELL OFF HYUNDAI ENERGY.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Mirant Corp., a U.S. energy concern, plans to sell off its stake in Hyundai Energy Co., with four overseas major energy firms showing interest in acquiring the Korean energy firm, industry sources said Thursday. ...

SUMITOMO ELECTRIC TO SHIFT OVERSEAS AUDIT WORK TO KPMG.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Sumitomo Electric Industries Ltd. (TSE:5802) is poised to shift most of the auditing work now conducted at its overseas subsidiaries by scandal-ridden Arthur Andersen LLP to KPMG LLP. Sumitomo Electric's decision...

NIKKEI BUSINESS INDEX FOR JUNE POSTS 1ST DIP IN 7 MONTHS.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - The Nikkei Business Index for June released Wednesday by Nihon Keizai Shimbun Inc. edged down 0.1 per cent from the previous month to 97.9 (1995 _ 100) on a preliminary basis, the first decline in seven months. ...

JAPAN'S FANUC REVISES UP INTERIM GROUP EARNINGS FORECAST.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Fanuc Ltd. (TSE:6954) said Wednesday that it expects a consolidated operating profit of 26.8 billion yen (US$223.57 million) for the fiscal half through Sept. 30, down 13 per cent on the year but above the 17.2 billion...

STOCKS - MALAYSIAN STOCKS UP IN EARLY TRADE - AUG 1, 2002.
August 1, 2002... KUALA LUMPUR, Aug 1 Asia Pulse - The Malaysian sharemarket was marginally higher in early trade in the absence of buying interest. The Kuala Lumpur Stock Exchange Composite Index edged up 0.21 points, or 0.03 per cent, at 721.8. The...

FOREX - AUSTRALIAN DOLLAR LOWER AT NOON - AUG 1, 2002.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - The Australian dollar was weaker to noon, shedding more than half a US cent as fears about the strength of the US economic recovery weighed down the domestic currency. At 1200 AEST, the Australian dollar bought...

JAPAN'S JAN-JUNE SHIPMENTS OF LARGE-SCREEN TVS UP 330 PCT.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Domestic shipments of PDP (plasma display panel) televisions in the January-June period jumped 330 per cent from a year earlier to 65,000 units, according to data issued Wednesday by the Japan Electronics and...

STOCKS - AUSTRALIAN STOCKS WEAKER AT NOON - AUG 1, 2002.
August 1, 2002... SYDNEY, Aug 1 Asia Pulse - The Australian share market continued to lose ground at noon, despite stronger trading in the US overnight. The market was weakened by media and resource stocks but propped up by a strong banking sector. The...

HONG KONG NEWSPAPER HIGHLIGHTS - AUGUST 1, 2002.
August 1, 2002... HONG KONG, Aug 1 Asia Pulse - Highlights of today's newspapers: THE SOUTH CHINA MORNING POST - IBM has struck a US$3.5 billion deal to acquire the global business consulting arm of accountancy firm PricewaterhouseCoopers, creating the...

THAI NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... BANGKOK, Aug 1 Asia Pulse - Highlights of today's newspapers: THE BANGKOK POST - Thai Airways International's stalled partial privatisation is now moving ahead with the final blessing given yesterday by the State Enterprise Policy...

CHINESE NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... BEIJING, Aug 1 Asia Pulse - Highlights of today's newspapers: PEOPLE'S DAILY - A grand reception was held Wednesday to mark the 75th founding anniversary of the Chinese People's Liberation Army (PLA) in the magnificent Great Hall of...

MALAYSIAN NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... KUALA LUMPUR, Aug 1 Asia Pulse - Highlights of today's newspapers: THE STAR - Tenaga Nasional Bhd (TNB) has struck an agreement with Petroliam Nasional Bhd (Petronas) and independent power producers (IPPs) to share the increased cost...

FIBER-BASED NET SERVICE SEES RECORD GROWTH IN JAPAN IN JUNE.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - The number of subscribers to the so-called fiber-to-the-home (FTTH) Internet connection service in June surged 34.7 per cent from the previous month to 68,600 lines, a record net increase of some 17,700 lines, the...

SAMSUNG HEAVY CLINCHES ORDER FOR EIGHT CONTAINER SHIPS.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Samsung Heavy Industries said Thursday it recently secured an order for eight container ships each with 5,500 TEU capacity from the biggest shipping firm in France, CMA.CGM. The order is worth US$420 million, the...

FOREX - KOREAN WON UP IN EARLY TRADE - AUG 1, 2002.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - The U.S. dollar lost ground against the Korean won Thursday with little trading and overall weak demand. The greenback opened trading on a weak note and edged down a few notches with some banks cushioning the slide...

BASF TO INCREASE INVESTMENT IN CHINA.
August 1, 2002... SHANGHAI, Aug 1 Asia Pulse - BASF Aktiengesellschaft of Germany, one of the world's leading multinational chemical giants, has announced that it will solely invest in a large chemical project using its latest patented technology in Shanghai....

SINGAPORE NEWSPAPER HIGHLIGHTS - AUG 1, 2002.
August 1, 2002... SINGAPORE, August 1 Asia Pulse - Highlights of today's newspapers: THE STRAITS TIMES - Reports M1, Singapore's second-biggest cellular operator, yesterday said its first-half pre-tax profit surged 41 per cent to $72 million on higher...

MURPHY OIL ANNOUNCES FIRST DEEPWATER OIL DISCOVERY IN MALAYSIA.
August 1, 2002... EL DORADO, Arkansas, Aug 1 Asia Pulse - Murphy Oil Corporation announced that its subsidiary, Murphy Sabah Oil Co., Ltd., has drilled a significant oil discovery on the Kikeh prospect located on Block K, off the East Malaysian state of Sabah....

KOREA'S THRUNET SELLS ITS BUILDING TO US FIRM.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - Thrunet Co., a high-speed Internet access service provider, is expected to sell its company building to U.S. investment company Carlyle, industry sources said Thursday. Thrunet and Carlyle which recently agreed on...

KOREA'S KT H1 NET PROFIT SOARS 130 PCT TO US$824 MLN.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - KT Corp., South Korea's biggest telecom carrier, said Thursday its net first half profit reached 981 billion won (US$824.36 million), up 130 per cent from the same period last year. During the January-June period...

KOREA'S DONGKUK STEEL MILL SETS UP J/V WITH JAPANESE FIRM.
August 1, 2002... SEOUL, Aug 1 Asia Pulse - The transportation unit of the Dongkuk Steel Mill Group (KSE:01230) has set up a joint-venture shipping firm with Kawatetsu Transportation and Technology Co., the group said Thursday. Kawatetsu is a subsidiary of...

CHINA'S JIANGSU TO EXPAND PET PRODUCTION.
August 1, 2002... BEIJING, Aug 1 Asia Pulse - Changzhou in China's eastern Jiangsu Province has launched an investment program aimed at bringing its current PET plastics production up to 420,000 tons by 2005. The program is designed to expand the production...

JAPAN'S NICHIMEN TO OFFER ONLINE SYSTEM FOR MARINE INSURANCE.
August 1, 2002... TOKYO, Aug 1 Asia Pulse - Nichimen Corp (TSE:8004) has developed and plans to begin sales in September of a system that uses the Internet to handle applications and other data exchanges related to marine insurance. The new online system...

CHINA BOOSTS INTEGRATED CIRCUIT DESIGN AND MANUFACTURE.
August 1, 2002... BEIJING, Aug 1 Asia Pulse - China has launched a super-scale integrated circuit (IC) and software program, with a goal of making the country a major IC designer and provider in about eight years. According to sources with the Ministry of...

VIETNAM'S DA NANG OFFERS INCENTIVES TO BOOST PRIVATE SECTOR.
August 1, 2002... HANOI, Aug 1 Asia Pulse - Da Nang city authorities have unveiled incentive policies and measures to promote the private sector, which they believe will play a fundamental role in the city's economic growth over the next decade. The city is...

CHINA'S STEEL PRICES RALLY FOLLOWING ONE-YEAR DECLINE.
August 1, 2002... CHANGSHA, Aug 1 Asia Pulse - Market prices of steel products in China have rallied from one-year decline after touching bottom at the beginning of this year. By the end of June, the composite price index had risen from 74.79 points at the...

BANK NEGARA MALAYSIA EXPECTS NET INFLOW OF US$954 MLN IN NEXT 12 MONTHS.
August 1, 2002... KUALA LUMPUR, Aug 1 Asia Pulse - Bank Negara Malaysia (BNM) expects a short-term net inflow of US$954 million comprising foreign currency loans, securities and deposits during the next 12 months. The projection does not include potential...

MALAYSIA'S TENAGA NASIONAL POSTS LOWER 9-MONTH NET PROFIT.
August 1, 2002... KUALA LUMPUR, Aug 1 Asia Pulse - Tenaga Nasional Bhd (KLSE:TENA) has posted a 32 per cent fall in net profit to RM1.21 billion (US$319.26 million) for the nine months ended May 31, 2002, from RM1.79 billion in the same period last year. ...

CHINA'S GUANGDONG TO CONCENTRATE MORE ON EXPORTS.
August 1, 2002... GUANGZHOU, Aug 1 Asia Pulse -- Eighteen high-tech brands from south China's Guangdong Province were listed on July 31 as the key export products expected to gain vigorous support from the Ministry of Foreign Trade and Economic Cooperation. ...

RAM ASSIGNS AAA RATING TO US$171.5 MLN BONDS ISSUED BY CAGAMAS.
August 1, 2002... KUALA LUMPUR, Aug 1 Asia Pulse - Rating Agency Malaysia (RAM) said it has assigned a long-term rating of AAA to the issue of aggregate nominal value of RM650 million (US$171.50 million) Cagamas Fixed Rate Bonds by Cagamas Berhad on 30 July...

VIETNAM TO PRODUCE HEPATITIS A VACCINE IN 2003.
August 1, 2002... HANOI, Aug 1 Asia Pulse - Vietnam will start producing a vaccine for Hepatitis A in 2003, said Ms. Thu Van, Director of the Vietnam Institute of Vaccines and Bio-products. The Institute, the producer of the vaccine, will initially turn out...

VIETNAM'S BOURSE NEEDS IMPROVED LEGAL FRAMEWORK: DEPUTY PM.
August 1, 2002... HANOI, Aug 1 Asia Pulse - Vietnam's bourse needs an improved legal framework and more tradable goods to become a real source of capital for economic development, said Deputy PM Nguyen Tan Dung at a recent conference reviewing the first two...

TAIWAN INDUSTRIAL PARK EYES TOURISM REVENUE.
August 1, 2002... HSINCHU, Aug 1 Asia Pulse - The Hsinchu Science-based Industrial Park (HSIP), known as "Taiwan's Silicon Valley," is envisaging milking profits -- not from its in-park hi-tech manufacturers, but by opening it to tourists. Speaking during a...