Asia Africa Intelligence Wire articles from January 2002

Asia Africa Intelligence Wire archives from January 2002

STANDARD CORPORATE AND MERCHANT BANK FOREX OPENING RATES.
January 31, 2002... Rates for amounts up to R 140 000 Bank Buying | Bank Selling Country Cur T/T Cheques Foreign | Cheques Foreign Notes | and T/T Notes QUOTATIONS ON BASIS RAND PER UNIT FOREIGN CURRENCY BRITISH STERLING GBP 15.8848 15.8435 15.8723 | 16.3392...

PRINCE ANDREW TO VISIT SA NEXT WEEK.
January 31, 2002... Prince Andrew -- the Duke of York -- will visit South Africa for four days next week to promote trade relations between Britain and South Africa, the British consulate-general said on Thursday. Consulate spokeswoman Sue Charlton said in a...

ELECTRICITY WORKERS IN HOSPITAL AFTER SUB-STATION BLAST.
January 31, 2002... The seven electricians seriously injured on Wednesday in two explosions at a Brixton sub-station have stabilised in hospital, City Power reported. City Power spokesman Sol Masolo said on Thursday the electricians were doing general...

Anglogold headline earnings were up by 16 percent to US88-million.
January 31, 2002... (R924-million) for the quarter ended 31 December, the company announced on Thursday. Addressing reporters in Johannesburg, company chairman and chief executive Bobby Godsell said although gold production was down four percent to 1,7-million...

PRIMROSE COUPLE ARRESTED FOR ALLEGED CHILD ABUSE.
January 31, 2002... A couple from Primrose in Germiston were arrested on Wednesday on charges of child abuse and murder, East Rand police said. Sergeant Prudence Mvelase said on Thursday that the 42-year-old father and his 28-year-old wife were arrested after...

QUOTES OF THE WEEK.
January 31, 2002... A selection of quotes from and about southern and South Africa published in the media during the past week. This feature moves every Thursday. "I have been called a Hitler, but I do not know where Hitler was born." -- Zimbabwean President...

FIRST NATIONAL BANK PUBLIC EXCHANGE RATES.
January 31, 2002... Published at 09:14:34 against the Rand on Thu 31 Jan 2002 for amounts up to R50000 Bank Bank Bank Bank Currency Selling Buying Buying Buying Rate Rate TC's Notes Rand per Foreign Currency Unit USD US DOLLARS 11.5675 11.2734 11.2174 11.1924...

SEMEN FOUND IN MARIKE DE KLERK'S FLAT.
January 31, 2002... Police on Thursday confirmed that semen had been found in the flat of murdered former first lady Marike de Klerk. Police spokesman Superintendent Wicus Holtzhausen said the results of DNA tests on the semen were not yet available. Holtzhausen...

ALLEGED COPPER WIRES THIEVES ARRESTED.
January 31, 2002... Four men were arrested early on Thursday morning after allegedly stealing copper wire valued at R250000 from telephone poles near Messina, Northern Province police said. Captain Ailwei Mushavhanamadi said the men, aged between 24 and 26...

THAI plans new round of bidding for inflight duty free concession - Krungthep Turakij 30/1/02.
January 31, 2002... Thai Airways International (THAI) has decided to begin a new round of bidding to find a concessionaire to sell duty free goods on board its flights, a report in Krungthep Turakij said. Kings Power On Board Sales (KPO)'s concession to sell...

SEC approves five foreign investment funds - Krungthep Turakij 30/1/02.
January 31, 2002... The SEC gave permission for five asset management companies to set up foreign investment funds worth $200 million, Krungthep Turakij reported. The SEC has authorised the requests of Thai Farmers Asset Management, One Asset Management,...

Trinity and Finansa consider raising status to full brokerages - Krungthep Turakij 30/1/02.
January 31, 2002... Trinity Securities and Finansa Securities are interested in acquiring brokerage licenses, Krungthep Turakij reported. The managing director of Trinity Securities said the company was planning to either buy Yuanta Securities (Thailand)'s...

Raimon Land reports on progress of refinancing plan - Krungthep Turakij 30/1/02.
January 31, 2002... Raimon Land has decreased capital and will soon increase capital to securitise debts, a report in Krungthep Turakij said. The Bankruptcy Court approved Raimon Land's refinancing plan on 8 November 2001. The company has now reduced its...

Govt plans new strategy to attract foreign investment.
January 31, 2002... The government plans to allow foreign investors to invest in state enterprises before they are privatized as part of its efforts to attract foreign investment. Government Spokesman Yongyuth Tiyapairat said Prime Minister Thaksin...

Pak Chong depot erupts again.
January 31, 2002... Just three months after munitions explosions rattled Nakhon Ratchasima's Pak Chong district, a second volley occurred yesterday, leaving 14 people injured, one of them seriously, officials said. The explosions took place at 2pm yesterday...

Herbal cures to face recall.
January 31, 2002... Prasatthong Osot Co, a maker of herbal products believed to contain arsenic exceeding safe levels, is to recall its products after receiving notification from the Food and Drug Administration (FDA) yesterday, an informed source said. ...

MP wants Speaker sacked over comments.
January 31, 2002... A senior government figure disclosed yesterday that he would lead an impeachment campaign against Senate Speaker Manoonkrit Roopkachorn, who recently criticised the imminent merger of the Thai Rak Thai and New Aspiration parties. Adisorn...

Sex manual to be toned down.
January 31, 2002... The distribution of a controversial sex-education book was suspended yesterday pending a toning down of its "explicit" language following an order by the Cabinet. Meanwhile, teachers and students were divided as to whether the explicit...

Class 15 officers backs off complaint.
January 31, 2002... Class 15 of the Chulachomklao Royal Military Academy has decided not to intervene in a dispute between police and an Army officer in Khon Kaen. Gen Sommai Paodira, leader of Class 15, said his group decided to let the case between Col...

Students step up relocation protest.
January 31, 2002... The Thammasat and Koh Rattanakosin Preservation Group yesterday released "10 Courses of Action" intended to beef up their campaign against the university administration's plan to move all undergraduate students from the city-centre Tha...

Student input sought by govt.
January 31, 2002... Prime Minister Thaksin Shinawatra yesterday asked the heads of 48 universities to organise student consulting teams at each school to analyse over 200 key government agencies and state enterprises for ways to boost efficiency. The...

Purachai suggests separate cards for under-twenties.
January 31, 2002... To make implementation of its "social-order" campaign easier, the Interior Ministry is considering differentiating the identity cards of people aged above and below 20 years. Local Administration Department deputy director-general Prakit...

Fund for overseas investment approved.
January 31, 2002... Five mutual fund companies' proposal to establish a US$200 million fund for investment in overseas equity markets has received the Securities and Exchange Commission's approval. According to SEC Secretary-General Prasarn Trairatvorakul,...

TBDC: Govt bonds to dominate market.
January 31, 2002... The secondary bond market is expected to be dominated by government bonds this year, with the anticipated issuance of Bt220 billion worth of government bonds to replenish the budget deficit, according to Thai Bond Dealing Centre. TBDC...

Budget not ready for approval.
January 31, 2002... The 2002-2003 budget has not yet been finalised, but it is expected to be available in next week's cabinet meeting, Minister for PM's Office Chaturon Chaisaeng said. The incompleted budget could attributed to concerns raised by some...

iTV's IPO price to be announced February 21.
January 31, 2002... Thai TV broadcaster ITV Plc to announce its shares' initial public offering (IPO) price on February 21. Public subscriptions will run from February 27 to March 1, while the stock will make its trading debut in mid-March, ITV said. ...

Property market to continue recovering.
January 31, 2002... Land & Houses Plc anticipates the continued recovery in the residential property market, bouyed mainly by the low offering prices. LH President Anant Asvabhokin said at a press conference Tuesday that demand for single houses, townhouses...

Lower Thai coffee supply.
January 31, 2002... Thailand will likely export little, or no coffee this year due to huge fall in output of coffee beans output, Commerce Minister Adisai Bodharamik said. Thailand's coffee output is expected to reach 40,000-50,000 metric tons this year,...

Huge amount of foreign capital flows into country, says BOT.
January 31, 2002... The Bank of Thailand's Governor M.R. Pridiyathorn Devakula yesterday disclosed a huge amount of foreign capital had flowed into the country in the past few months. He said most of the capital were brought in to invest in the Stock Exchange...

Situations return to normal after blasts at arsenal in Pak Chong.
January 31, 2002... Situations in Pak Chong district in this northeastern province of Nakhon Ratchasima have returned to normal since early Wednesday following a series of strong blasts at a military arsenal, according to a T.V. news report. No more...

BoA denies ABN Amro plans to sell bank.
January 31, 2002... Chulakorn Singhakowin, President of the Bank of Asia Plc (BoA), denied rumors that ABN Amro Bank, the Netherlands-based parent company, will sell the bank due to poor performance, Manager Daily said on January 30, 2002. BoA will not...

SCB's rate decision hinges on outcome of Fed meeting.
January 31, 2002... Siam Commercial Bank Plc's president Jada Wattanasiritham said the bank is considering cutting interest rates but should the US Federal Reserve maintain its benchmark interest rate, the bank may not cut interest rates for a short period,...

PTTEP pessimistic on sales growth.
January 31, 2002... PTT Exploration and Production Plc (PTTEP) said continuous decrease of crude oil prices would not support sales growth this year, Manager Daily reported on January 30, 2002. A source from PTTEP said the company expects to record about 28...

Three state banks may issue syndicated loan to NFC.
January 31, 2002... Krung Thai Bank Plc (KTB), Bangkok Metropolitan Bank Plc (BMB) and Siam City Bank Plc (SCIB) may issue a syndicated loan of 700 to 800 million baht to the National Fertilizer Plc (NFC),Manager Daily said on January 30, 2002. Earlier, the...

TA Orange to set up US$ 400 million back-office system.
January 31, 2002... TA Orange will spend US$ 400 million (17.6 billion baht) on installing back-office system facilities this year, pointing out it has received a satisfactory response from trials with employees of Charoen Pokphand Group companies. Supachai...

PTT-TPI link up considered.
January 31, 2002... PTT is working on a partnership with debt-ridden Thai Petrochemical Industry Plc (TPI) in refining oil so as to reduce cost and increase revenue. The partnership may cover sharing of resources, co-marketing and joint purchase of raw...

Raimon proceeds with debt restructuring plan.
January 31, 2002... Raimon Land Plc (RAIMON) will increase its registered capital as part of its debt restructuring plan, Manager Daily said on January 30, 2002. Raimon has informed the Stock Exchange of Thailand that the company will issue 24.05 million...

Phuket Abalone Farm succeeds in commercially raising abalone - Krungthep Turakij 30/1/02.
January 31, 2002... Phuket Abalone Farm may be the first group in the world to develop a comprehensive system for raising large abalone on a commercial basis, according to a report in Krungthep Turakij. Phuket Abalone Farm has developed a system for raising...

Heinneken invests in increased production - Krungthep Turakij 30/1/02.
January 31, 2002... Thai Asia Pacific Brewery is expanding its production of Heinneken and Amstel brand beers to meet increasing market demand, Krungthep Turakij reported. Thai Military Bank has given Thai Asia Pacific Brewery a four-year loan of 2.08...

EX-TEAMMATE TO TESTIFY AGAINST PIETERSBURG RUGBY PLAYERS.
January 31, 2002... A former member of the Noordelikes rugby club in Pietersburg is to continue his evidence for the State against his ex-teammates in their Pretoria High Court murder trial on Thursday. On Wednesday, Louis Strydom testified they were all on a...

FIVE DIE IN ACCIDENT.
January 31, 2002... Five people were killed and 11 others injured on Thursday morning when a BMW crashed into a bakkie between Bapsfontein and Birchleigh near Kempton Park, traffic officials said. Kempton Park traffic spokesman Nthudi Kungwane said the bakkie...

SUNT-SENSIVITVE SA FAMILY LOSES BID TO STAY IN CANADA.
January 31, 2002... A Johannesburg family plagued by a rare medical condition that makes three of its four members allergic to sunshine had its latest bid to stay in Canada turned down, immigration officials said this week. John and Maggie Viviers came to...

TRAIN COACHES GUTTED AT JO'BURG STATION.
January 31, 2002... Three Metrorail train coaches were gutted by fire at Johannesburg Park Station on Wednesday night in an incident which Metrorail said might be linked to a fight between hawkers and officials earlier in the day. Company spokeswoman Lillian...

NORTHAM INTERIM RESULTS DOWN.
January 31, 2002... Northam Platinum's interim results for the six months ended December 31 -- announced in Johannesburg on Thursday -- showed headline earnings of R127-million, down from R229-million for the same period last year. Headline earnings for the year...

SOUTPANSBERG FARMER ALLEGEDLY ASSAULTS EMPLOYEE.
January 31, 2002... A Soutpansberg farm employee was recovering at hospital on Thursday after his employer allegedly assaulted him, Northern Province police reported. Captain Ailwei Mushavhanamadi said on Thursday the farmer allegedly caught the employee using a...

GOVERNMENT AND BUSINESS UPBEAT ABOUT FIGHT AGAINST CRIME.
January 31, 2002... Government and business leaders were upbeat about their partnership in the fight against crime, saying on Wednesday that there had been several breakthroughs in the past three years. After being briefed by Business Against Crime (BAC),...

CUCUMBER QUEEN JANINE CAN CARRY ON TEACHING.
January 31, 2002... Mitchell's Plain schoolteacher and Big Brother housemate Janine Orderson, who simulated fellatio with a cucumber on the M-Net reality program last year, can carry on teaching. However, the South African Council for Educators (SACE), which...

TRAFFIC DISRUPTED AFTER N3 CASH HEIST.
January 31, 2002... Traffic was severely backed up at the Mariannhill toll plaza on the N3 highway near Pinetown outside Durban following a cash-in-transit heist earlier on Thursday morning, KwaZulu-Natal police said. Director Bala Naidoo said a gang, travelling...

HOSPITALITY ASSOCIATION AIMS FOR TRANSFORMATION.
January 31, 2002... The management board of the Federated Hospitality Association of SA (Fedhasa) has approved a plan to transform and restructure the organisation over the next year. Fedhasa executive director Willem Fick said on Thursday the plan was to...

HERE IS THE RAINFALL REPORT FOR THE 24 HOURS ENDING AT 08:00 ON.
January 31, 2002... 2002/01/31 (PRELIMINARY DATA) THE FOLLOWING PLACES REPORTED 1 MM AND MORE: GAUTENG CARLETONVILLE 3 JOHANNESBURG INT WK 8 MIDRAND 4 NIGEL 1 MPUMALANGA BETHAL 6 DELMAS 36 ERMELO WK 4 KOMATIDRAAI e 32 LYDENBURG e 2 PIET RETIEF e 45 SKUKUZA 52...

ASPEN, UNION IN R150-MILLION EMPOWERMENT DEAL.
January 31, 2002... The investment arm of the Chemical, Energy, Paper, Printing, Wood and Allied Workers Union (Ceppwawu) has acquired 7,24 percent of listed pharmaceutical company Aspen Pharmacare for R150-million, Aspen said on Thursday. Aspen's chief...

RUGBY PLAYER VOWED 'TO SHOOT KAFFIRS', COURT HEARS.
January 31, 2002... A former member of the Pietersburg Noordelikes rugby club told the Pretoria High Court on Thursday how one of his ex-team mates, accused of murdering Northern Province teenager Tshepo Matloha, had said he would "shoot the kaffirs". Louis...

INSOLVENCIES DECLINING.
January 31, 2002... There had been a 44 percent drop in the number of insolvencies recorded in the three months ending November last year compared with the previous quarter, Statistics SA reported on Thursday. It said the total fell from 897 to 500 insolvencies...

PARLY EMBRACES AFRICAN UNITY AT 2002 OPENING.
January 31, 2002... The official opening of Parliament this year will embrace the theme of African unity, with a jigsaw mural of Africa and flags of the continent's 53 countries lining President Thabo Mbeki's route through the parliamentary precinct. Briefing...

ANGLOGOLD HEADLINE EARNINGS UP TO R924-MILLION.
January 31, 2002... AngloGold's headline earnings were up by 16 percent to US88-million (R924-million) for the quarter ended December 31, the company announced on Thursday. Addressing reporters in Johannesburg, company chairman and chief executive Bobby Godsell...

FIRE DAMAGE AT PARKTOWN CLINIC WILL COST R10 MILLION.
January 31, 2002... Damage estimated at an estimated R10-million was caused by an early morning fire at a Parktown North mammography and bone density centre on Thursday, Johannesburg Emergency Management Services reported, Spokesman Gavin Wilson said the...

DA CONDEMNS MBEKI FOR PICKING 'RACIST' COMMISSIONER.
January 31, 2002... The Democratic Alliance accused President Thabo Mbeki on Thursday of appointing a "racist conspiracy theorist" to the Myburgh Commission which will look into the collapse of the rand. Party spokesman Nick Clelland-Stokes said in a statement...

RAND, JSE FIRM.
January 31, 2002... The rand firmed to R11,41/$ by noon Thursday from R11,47 Wednesday. The JSE overall index gained 0,4 percent in choppy trade to 10247 on the back of a firmer Wall Street. Financial indices were marginally lower while resources and industrial...

Delay in Hynix sale won't affect Korea's sovereign ...
January 31, 2002... = Delay in Hynix sale won't affect Korea's sovereign credit rating, says Moody's Investor Service = Despite a delay in sales negotiations between Hynix Semiconductor Co. and Micron Technologies and a collapsed sale deal between Hyundai...

Stock prices shed in 3 days.
January 31, 2002... The Korea Composite Stock Price Index closed at 748.07, down 1.38 points from the previous close on Thursday. Medison, which went bankrupt this week, hit its daily limit-low, while the tech-heavy Kosdaq market rising to the 77-point...

Foreign firms in Korea forecast 'positive' economy.
January 31, 2002... Foreign companies with branch offices in Korea have rosy forecasts regarding the Korean economy. In a survey conducted by the Korea International Labour Foundation (KILF) on 209 foreign companies currently doing business in Korea, 46.4%...

Carlyle-JP Morgan selected to acquire Kumho Tire.
January 31, 2002... A Carlyle- JP Morgan consortium was selected as the preferred candidate to acquire Kumho Tire, reported officials of the Kumho Group on January 31. The consortium had competed against a Goldman Sachs-Newbridge Capital consortium. ...

LG enters Myanmar CDMA market.
January 31, 2002... LG Electronics, one of the leading mobile phone makers in Korea, reported on January 31 that it has entered the CDMA equipment market in Myanmar. LG signed a MOU deal with MPT, the state run telephone company of Myanmar, to supply...

Samsung Elec. to lower digital TV prices in Feb.
January 31, 2002... Samsung Electronics Co. announced on Thursday that it will lower prices of some high-density digital TV products in February. The company said that it plans to lower the value of its 55-inch projection TVs, which includes an installed set...

Slowdown gives textile, gem EOUs a hit.
January 31, 2002... Byline: G Ganapathy Subramaniam : Hit by global slowdown and reduction in consumer spending on non-essential goods, export oriented units (EOUs) in key sectors like textiles and gems & jewellery have posted high negative growth. EOUs...

Sharjah FTZ bid to rope in auto parts companies.
January 31, 2002... : The Hamriyah Free Zone of Sharjah has launched a bid to attract Indian automobile component manufacturers. A marketing team representing the free trade zone visited dozens of auto component manufacturers during the recently-concluded...

Desi pharmas best MNCs in launches.
January 31, 2002... Byline: Dharmendrasinh Chavda : Indian pharma majors have done it again. Apart from the launch of Viagra clones, which enabled domestic pharma companies to outperform their MNC rivals during January-December 2001, Indian pharma majors...

Scramble for tricolour thrills KVIC.
January 31, 2002... Byline: Satyendra Shrivastava : While observers and critics are still weighing their verdict on the amendments to the National Flag Code, the immediate public acclaim to this decision is more than evident. It was a victory not only...

Debenture reserve norms for FIs may be eased.
January 31, 2002... Byline: Jayanthi Iyengar & J Padmapriya : The Department of Company Affairs is set to throw a lifeline to beleaguered financial institutions incorporated as companies. They would be exempt from setting aside funds in a debenture reserve...

SBI hugs retail in a big way, hands out Rs 2,400-cr loans.
January 31, 2002... Byline: Rajas Kelkar & Sangita Mehta : SBI is sharpening its retail focus and the strategy shift is becoming clearer by the day. The bank has permanently waived the processing fees on car loans, and on all retails loan products till...

ARC takes off with Rs 350-cr corpus.
January 31, 2002... Byline: Samik Dasgupta : The Asset Reconstruction Company has been formed with a corpus of Rs 350 crore. It will have a trust structure in contrast to a limited liability company structure proposed earlier. The exact proportion in which...

Advisory group on UTI to meet Monday.
January 31, 2002... : THE government-appointed standing advisory group on the Unit Trust of India is to have its first meeting on February 4, 2001. Speaking to reporters at the sidelines in Mumbai on Wednesday, S S Tarapore chairman of the three-member...

State Bank of Indore offers new agri loans.
January 31, 2002... Byline: R R Goswami STATE Bank of Indore has come out with a new scheme to provide credit facility for setting up of Agriclinics and Agribusiness centres by agriculture graduates. Acting managing director of the bank S Prasada Rao...

Film financing to get a lift as FIs go IDBI way.
January 31, 2002... Byline: Sudha Nagaraj FILM financing which was fraught with problems last year is likely to get a boost within this fiscal. IDBI, which jumped into the fray with a Rs 100 crore fund, is all set to approve half a dozen more projects...

Rlys propose to defer dividend again.
January 31, 2002... Byline: J Padmapriya : FOR the third year running, the Railways propose to defer their dividend liabilities amounting to Rs 2,000 crore, citing poor internal resource generation. Sources said a compromise on the dividend payments is...

Export strategy pegs 12% growth.
January 31, 2002... : Aiming at an export target of $80 billion by 2006-07, the government unveiled the much-awaited medium term export strategy on Wednesday, stressing on the need to focus on key markets, select items, incentives compatible with World Trade...

Want a Maruti? Buy it before the FM cuts excise!
January 31, 2002... Byline: Sanjeev Sharma : Believe it or not, you may have been better off buying India's entry level car, Maruti 800, last year before the budget when excise duties were higher at 40 per cent. If this sounds crazy, sample this. The...

Gutka share zooms past bidis.
January 31, 2002... Byline: Raghu Krishnan : The campaign against smoking in public places could have caused an unusual change in the pattern of tobacco consumption in the country. Till a few years ago, bidis accounted for 54 per cent of tobacco...

Tea prices continue slide.
January 31, 2002... : The crisis in the tea industry continues unabated into the new year with no signs of recovery. And what is more worrisome is that the early signals of 2002 do not indicate that we are yet into a revival path. A cursory look at the...

No Brazil sugar exports.
January 31, 2002... RIO DE JANEIRO: Brazilian sugar producers will stay out of the world market and cash in on firm domestic values, while foreign buyers wait for bigger bargains after a sharp fall in raw sugar futures on Tuesday, traders said. "Brazilian...

Telco, Ashok Leyland to hike prices.
January 31, 2002... Byline: Nandini Sen Gupta & Samik Dasgupta : After the ding-dong battle over car price hikes, truck-makers are now getting into the act. According to sources in the financing circuit, both Telco and Ashok Leyland are all set to increase...

SG Asia Securities scales down Indian biz.
January 31, 2002... Byline: Rajas Kelkar : The exodus of foreign brokerages from India continues. SG Asia Securities has decided to drastically scale down its broking operations in India. According to sources familiar with the issue, almost 75 per cent of...

Citibank unveils new logo.
January 31, 2002... : Citibank India on Wednesday unveiled a new logo aimed at giving the bank a new identity. The signature blue wave remains on signages but the compass rose which was introduced in 1976, has been replaced with a red arc to reflect the...

IFCI, ICICI nominee directors quit 40 cos.
January 31, 2002... Byline: Jayanthi Iyengar : The department of company affairs has bitten more than it can chew. Even while there were widespread reports of promoters stepping down from the boards of companies which have defaulted on payments to...