Asia Africa Intelligence Wire articles from May 2005, page 26

Asia Africa Intelligence Wire archives from May 2005

SPECIAL FEATURE.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla Prospectuses make them appear like promises. However, the reality of pre-need products is that these are actually contracts that represent not only an agreement, but also...

SPECIAL FEATURE.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla A parable tells of a master who, before going on a journey, called his servants and gave each of them a particular amount that they could grow in any way they choose. The...

Privatization to reduce local power costs, says industry exec.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Wendy Ferrer Benguet - Complete privatization of the energy sector will bring down power costs in the Philippines, an industry official said. In other countries, power rates were...

COURTSIDE.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Anthony L. Cuaycong Going into Game Three of the National Basketball Association Western Conference finals, Phoenix remained in high spirits. Never mind that it lost both ends of a...

SPECIAL FEATURE.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Johanna Paola D. Poblete Longevity and trust are the two pillars of the insurance industry; the contract between client and company relies on how these foundations hold up despite the...

Metro Manila workers get P25 daily pay hike.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Rommer M. Balaba The National Capital Region wage board approved yesterday the increase in the daily minimum wage of Metro Manila workers to P275 from P250 effective June 16. Workers in...

Inflation seen steadying this month at 8.5%.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno and Karen L. Lema Inflation or the increase in prices is forecast to remain relatively high at 8.5% this month, the same rate since February, Socioeconomic Planning...

Nissan Frontier: built for safety.
May 31, 2005... (From BusinessWorld (Philippines)) The Nissan Frontier is built and engineered for safety. Records of the Truck Manufacturers Association of the Philippines (TMAP) show that the Frontier has been the top-selling double cab compact pickup...

Business confidence down.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Jennifer A. Ng Japanese businessmen's confidence in Asia - particularly the Philippines, Indonesia, and Thailand - is down this month, the Japan External Trade Organization (JETRO) said. ...

PSE may revise list rules.
May 31, 2005... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio The Philippine Stock Exchange (PSE) may revise its rules to allow the public listing even of mining companies that do not have the required history or record of...

INDONESIA'S INDOCEMENT TO RETAIN PROFIT TO REPAY DEBT.
May 31, 2005... (From Asia Pulse) Byline: the end of 2004 its debts were estimated to total US$400 JAKARTA, May 31 Asia Pulse - Cement maker PT Indocement Tunggal Prakarsa (JSX:INTP) said it may not distribute dividends from last year's profit as it...

TOP DIPLOMATS FROM BIMSTEC NATIONS MEET IN DHAKA ON JUNE 1.
May 31, 2005... (From Asia Pulse) DHAKA, May 31 Asia Pulse - Senior Foreign Ministry officials of the seven-member BIMSTEC south and southeast Asian economic cooperation grouping will meet here in Dhaka on June 1 to review cooperation in six priority...

Chinese look for partner to penetrate market in Thailand.
May 31, 2005... (From Bangkok Post) The China-based architectural firm SRT International Design Group is seeking a Thai firm to form a joint venture in order to penetrate the architectural market in Thailand, according to Edward Shen, the company's...

Huge bond issues to lubricate oil fund.
May 31, 2005... (From Bangkok Post) Four lots of five-year bonds worth 20-25 billion baht each would be issued to offset the liabilities of the state Oil Fund, under a proposal to be made by Energy Minister Viset Choopiban. The cabinet today will...

Thaioil-Bangchak co-operation aims to maximise capacity.
May 31, 2005... (From Bangkok Post) Thai Oil Plc, the country's largest oil refiner, has begun using its facilities to crack heavy oil from Bangchak Petroleum Plc under a co-operation agreement intended to make the most efficient use of state-owned...

Government firm on separating supervision.
May 31, 2005... (From Bangkok Post) The government insists that financial institution supervision be separated from the Bank of Thailand as part of the bureaucratic reform process, according to Finance Minister Somkid Jatusripitak. The...

GDP forecast revised down to 4.6%.
May 31, 2005... (From Bangkok Post) Byline: WICHIT CHANTANUSORNSIRI The Finance Ministry has revised the country's economic growth forecast downward, acknowledging the impact that high energy prices and a host of other factors are having. The...

Institutional growing pains, Part II.
May 31, 2005... (From Bangkok Post) A fortnight ago the first part of this article offered insights into the findings of a joint PricewaterhouseCoopers-Economist Intelligence Unit global survey entitled Focus on Growth: Striking the Right Value Balance...

State bonds give BEX a big boost.
May 31, 2005... (From Bangkok Post) Byline: NUNTAWUN POLKUAMDEE The Bond Electronic Exchange (BEX) will tomorrow have a sharp increase in liquidity and turnover when 10 tranches of government bonds worth 293.19 billion baht from the Thai Bond...

SCB set to step up focus on retail.
May 31, 2005... (From Bangkok Post) Being named the country's best retail bank has underscored the determination of Siam Commercial Bank to focus on the retail segment because of its good growth potential, according to the bank's president, Khunying...

Shareholders given new value yardstick.
May 31, 2005... (From Bangkok Post) Byline: PLOY CHITSOMBOON Shareholders should consider putting their money elsewhere if their shareholdings generate returns lower than the cost of equity, according to the investment consulting firm Stern Stewart...

Keeping up with expanding IT infrastructure.
May 31, 2005... (From Bangkok Post) Mobility certainly creates value. Mobile devices are cheap to acquire and easy to use. They offer wide access to information and applications while, at the same time, increase efficiency, improve customer service and...

Slowing economy takes its toll on 100 Pipers.
May 31, 2005... (From Bangkok Post) An increasingly uncertain economy and pressure on consumer spending caused by rising oil prices are expected to slow the sales of imported 100 Pipers Scotch whisky, which enjoyed 30% sales growth year. The...

Final eight resign from graft panel.
May 31, 2005... (From Bangkok Post) Byline: POST REPORTERS The remainder of the anti-corruption commissioners have bowed to public pressure and quit, with the government offering to take the lead in amending the constitution so a new commission can...

Govt inquiry still missing evidence.
May 31, 2005... (From Bangkok Post) Deputy Prime Minister Visanu Krue-ngarm has extended the reporting deadline for an inquiry into suspected irregularities in the purchase of CTX 9000 bomb detectors until Friday. He said yesterday some points in...

Govt to decide on total diesel price float.
May 31, 2005... (From Bangkok Post) Byline: YUWADEE TUNYASIRI A government decision is imminent on whether to remove the state subsidy on diesel and allow the price to float. Meanwhile, a nationwide energy-saving campaign begins tomorrow to...

Burning of Queen's pavilion condemned.
May 31, 2005... (From Bangkok Post) Muslim villagers have condemned the torching of Her Majesty the Queen's handicraft work pavilion in Narathiwat's Yi-ngo district on Sunday. Meanwhile, a teacher was shot dead in Pattani, two military bases...

Secret operation underway to return peace to far South.
May 31, 2005... (From Bangkok Post) A secret operation is underway to bring peace to the deep South, Supreme Commander Gen Chaisit Shinawatra said yesterday. The details could not be revealed. The supreme commander was full of praise for Wan Kadir...

Views differ sharply on amending charter.
May 31, 2005... (From Bangkok Post) Byline: POST REPORTERS Political opinions are split over the need for a constitutional amendment to keep party representatives off the panel selecting the next batch of graft-busters. Technical difficulties...

Suchon defends decision to postpone Wisut nomination.
May 31, 2005... (From Bangkok Post) Senate Speaker Suchon Chaleekrua yesterday defended his decision to postpone the nomination of Wisut Montriwat as the new auditor-general to His Majesty the King, saying the matter was complicated and required...

Disaster Warning Centre opens.
May 31, 2005... (From Bangkok Post) The National Disaster Warning Centre was officially opened yesterday, five months after the country was hit by the Dec 26 tsunami. Prime Minister Thaksin Shinawatra declared the centre, on Ratanathibet road...

Govt rakes in the cash as people puff on FOCUS / WORLD NO TOBACCO DAY.
May 31, 2005... (From Bangkok Post) Byline: APIRADEE TREERUTKUARKUL Over the past few years, the government's anti-smoking campaign has given little, if any, impetus to the effort to reduce overall tobacco consumption and production in the country...

Reform plan to upgrade PRD needs more study.
May 31, 2005... (From Bangkok Post) More discussions were needed on a plan to upgrade the Public Relations Department (PRD) into a think-tank, said Deputy Prime Minister Visanu Krue-ngam yesterday. Mr Visanu said the plan was still far from approval...

New Delhi steps up energy diplomacy ANALYSIS / INDIA'S SEARCH FOR OIL.
May 31, 2005... (From Bangkok Post) Byline: DINESH C. SHARMA New Delhi _ India is not a major oil producer, but is beginning to cause a flutter in international energy markets. For a change, major players in the oil market are sitting up and...

Scandal will bring down government.
May 31, 2005... (From Bangkok Post) The controversy over theCTX bomb detectors for Suvarnabhumi airport will bring the Thaksin government's second term to a premature end, Thammasat University lecturer Thirayuth Boonmi said yesterday. Prime Minister...

Same old headache about school books.
May 31, 2005... (From Bangkok Post) We always come back to the same old topic of discussion at the beginning of every academic year, about the hefty burden on parents' purses when it comes time to buy new books exclusively from their children's schools....

Army urged not to push back Shan.
May 31, 2005... (From Bangkok Post) Byline: ACHARA ASHAYAGACHAT WASSANA NANUAM Human Rights Watch (HRW) yesterday expressed concern over a Thai army plan to force 68 Shan families and a hostel housing 208 orphans to move away from the disputed...

TOBACCO FIGHT BEGINS AT HOME.
May 31, 2005... (From Bangkok Post) Byline: Story by APIRADEE TREERUTKUARKUL Surrounded by high mountains and rice paddies, small Ban Han 1 village is leading the charge in the battle to wipe out cigarette smoking. The smoke-free village in Tha...

TOBACCO FIGHT BEGINS AT HOME.
May 31, 2005... (From Bangkok Post) Byline: APIRADEE TREERUTKUARKUL Nan _ Believing that religion can also play a part in promoting good health, a Buddhist monk in Nan province has established a weekend religious camp to teach teenagers not to smoke...

Officers are accused of torture in murder case.
May 31, 2005... (From Bangkok Post) One of the suspects in the May 7 killings of six Cambodian workers in Rayong has accused Klaeng district police of abducting and torturing him to force him to confess to robbery and murder charges on Sunday. The...

Thailand eye 30 golds at first Asem Games.
May 31, 2005... (From Bangkok Post) Hosts Thailand target at least 30 gold medals at the June 2-8 Asem Youth Games to be held in Bangkok and Phuket. More than 800 under-18 athletes from 27 Asian and European countries including Germany, Japan and...

The search for a way to stop collusion.
May 31, 2005... (From Bangkok Post) The row over explosives detector machines for Suvarnabhumi Airport has raised questions of political will. A cross-section of people, including legal experts, politicians and members of civil society, believe there...

Boxers with same name cause a stir.
May 31, 2005... (From Bangkok Post) Polinar is perhaps an unusual surname, but it is being used by two Filipino boxers and that has caused confusion to a Japanese promoter, Joe Koizumi. He has been trying to determine, whether he is the same fighter...

Japan up next.
May 31, 2005... (From Bangkok Post) Thailand's futsal team take on Japan today in their final outing of the grouping quarter final of the AFC Futsal Championships in Ho Chi Minh City, Vietnam. Thailand have been in great form so far and drew 3-3...

Not so United.
May 31, 2005... (From Bangkok Post) Now that Manchester United have finished without a trophy I wonder how long it will be before Sportsbag is inundated with letters calling for the head of manager Sir Alex Ferguson. If Chelsea hadn't a millionaire...

Suffer the little children.
May 31, 2005... (From Bangkok Post) Byline: Story by CHOMPOO TRAKULLERTSATHIEN Photos by SOMKID CHAIJITVANIT It is a common sight to see the older children here helping the younger ones clean their bedrooms or wash their clothes, or to hear them...

A royal honour.
May 31, 2005... (From Bangkok Post) Byline: Krissie na Klongtoey On May 24, HRH Princess Maha Chakri Sirindhorn received an honorary doctorate in humane letters from Edgewood College. Edgewood College is Madison, Wisconsin's only independent...

Crowning beauty.
May 31, 2005... (From Bangkok Post) Byline: SAMILA SUTTISILTUM When Kokichi Mikimoto decided to cultivate cultured pearls in 1893, he intended to bedeck every woman with his specially-designed jewellery . More than a century later, while the...

(ED) RBA says private sector credit rose by 0.9pc in April.
May 31, 2005... (From RWE) Sydney - Tuesday - May 31: (RWE) - Total credit provided to the private sector by financial intermediaries rose by 0.9 per cent in April, following a (revised) rise of 0.7 per cent in March. The Reserve Bank also reported...

(MR) Ferret's MARKET REACTORS - what's hot and what's not.
May 31, 2005... (From RWE) Sydney - Tuesday - May 31: (RWE Australian Business News) - ************************** Some share price moves to keep an eye on in the market: TICOR (TOR) up 14.5c to $1.695: Has received a buyout offer from 51.5 per cent...

MERCEDES-BENZ KOREA RECALLS OVER 4,000 CARS.
May 31, 2005... (From Asia Pulse) SEOUL, May 31 Asia Pulse - Mercedes-Benz Korea is implementing a voluntary recall of 4,095 E, SL and CLS class cars due to defects in their braking systems, the Ministry of Construction and Transportation said Tuesday....

HONG KONG NEWSPAPER HIGHLIGHTS - MAY 31, 2005.
May 31, 2005... (From Asia Pulse) HONG KONG, May 31 Asia Pulse - Highlights of today's newspapers: SOUTH CHINA MORNING POST: - Pro-Beijing figures close to Donald Tsang Yam-kuen's campaign are getting ready for a quick start to the long-awaited...

OMAN AND SINGAPORE HOLD TRADE TALKS.
May 31, 2005... (From Asia Pulse) MUSCAT, May 31 Asia Pulse - A session of trade talks was held at Oman Chamber of Commerce and Industry (OCCI) between the Omani side led by Khalid bin Mohammed al-Zubair, deputy President of the OCCI board and the...

COCA-COLA SUED BY S.KOREAN AD FIRM OVER ONLINE PROMOTION PATENTS.
May 31, 2005... (From Asia Pulse) SEOUL, May 31 Asia Pulse - South Korean advertising company Dartz Communication has sued Coca-Cola Co., the world's biggest soft drink maker, over patents for an online promotion technology that encourages consumers to...

MALAYSIAN NEWSPAPER HIGHLIGHTS - MAY 31, 2005.
May 31, 2005... (From Asia Pulse) KUALA LUMPUR, May 31 Asia Pulse - Highlights of today's newspapers: BUSINESS TIMES: - Beleaguered Kumpulan Emas is working on finalising transactions to dispose of major assets of the company. - IJM Corp,...

JAPANESE NEWSPAPER HIGHLIGHTS - MAY 31, 2005.
May 31, 2005... (From Asia Pulse) TOKYO, May 31 Asia Pulse - Highlights of today's newspapers: NIKKEI NET: - Japan's seasonally adjusted unemployment rate fell to a 76-month low at 4.4 per cent in April, down 0.1 percentage point from March,...

Taiwan businesses should be aware of their intellectual property rights.
May 31, 2005... (From China Post) Taiwan importers and exporters who own intellectual property rights (IPR) in the U.S., Japan, the EU and China should be aware of differences in regulations and work closely with local officials to ensure protection of...

U.S. senator promotes FTA, offers advice.
May 31, 2005... (From China Post) President Chen Shui-bian yesterday told U.S. Senator John D. Rockefeller IV that a free trade agreement (FTA) is essential to maintaining stability in Asia. Rockefeller was in Taiwan from Saturday until yesterday...

National Assembly starts session at Yangmingshan.
May 31, 2005... (From China Post) Uniformed deputies marched in, while three others tore up their certificates of election and the tiny opposition shouted abuse, to get the National Assembly inaugurated at Yangmingshan yesterday. The festive spirit...

Injunction asked against ID fingerprinting.
May 31, 2005... (From China Post) The Council of Grand Justices yesterday accepted a request for an injunction against the fingerprinting of all people above 14 years of age the Ministry of the Interior is all set to start on July 1. Fan Kuang-chun,...

DPP to seek middle of the roader support, Premier Hsieh says.
May 31, 2005... (From China Post) Premier Frank Hsieh said yesterday the ruling Democratic Progressive Party (DPP) will seek middle of the roader support and let the Taiwan Solidarity Union continue consolidating its power base of Taiwan independence...

Fund transfers to be limited to NT$30,000 per day: FSC.
May 31, 2005... (From China Post) Starting June 1, bank customers will not be allowed to transfer funds more than NT$30,000 via the ATM, according to the new law drafted by the Financial Supervisory Commission (FSC). ATM users are allowed an...

Final day for tax returns, two million still not filed.
May 31, 2005... (From China Post) Today is the last day for filing taxes in Taiwan, with taxation authorities reporting over two million people islandwide had not yet filed their taxes. Taxation bureaus across the country were full of jostling...

Gov't will respond if China removes missiles: Hsieh.
May 31, 2005... (From China Post) Premier Frank Hsieh yesterday said the government would respond with goodwill if Beijing made steps to remove its deployments of missiles aimed at Taiwan -- but said he wanted a billion dollar U.S. arms deal to go...

60% of canned and bottled bird's nest fake, officials say.
May 31, 2005... (From China Post) The Taipei City Department of Health (DOH) yesterday announced that close to 60 percent of the canned or bottled edible bird's nest are fake. Edible bird's nest, a Chinese delicacy, is harvested from the nests of...

Man in intensive care after drinking cleaner.
May 31, 2005... (From China Post) A 63-year-old man is in intensive care after he accidentally drank liquid cleaner from a water bottle yesterday. The police has ruled out foul play and categorized the case as a simple accident. According to the...

Chen plans both higher income and business taxes.
May 31, 2005... (From China Post) President Chen Shui-bian yesterday gave a series of instructions on tax reforms, including raising the business tax rate in the near future and gradually jacking up the average tax rate on incomes on a long-term basis....

PHILIPPINE NEWSPAPER HIGHLIGHTS - MAY 31, 2005.
May 31, 2005... (From Asia Pulse) MANILA, May 31 Asia Pulse - Highlights of today's newspapers: MANILA TIMES: - Weak electronic exports, poor farm output, and higher prices have dampened the economy in the first quarter to post the lowest growth...

ROH ORDERED EX-AIDE TO PURSUE COAST D'MENT PROJECT: SPOKESMAN.
May 31, 2005... (From Asia Pulse) SEOUL, May 31 Asia Pulse - President Roh Moo-hyun has ordered Jeong chan-yong, a former senior presidential secretary for personnel management, to pursue a controversial massive development project along South Korea's...

KOREAN WAVE PHENOMENON ATTRACTS FOREIGN CURRENCY TO S.KOREA.
May 31, 2005... (From Asia Pulse) SEOUL, May 31 Asia Pulse - The "Korean Wave" phenomenon, or the recent boom in South Korean pop-culture throughout Asia, has brought an influx of foreign currency into the country, the central bank said Tuesday. ...

Kuok Brothers sells stake in Pelangi.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: Kuok Brothers sells stake in Pelangi ..ZO: B-ALL ..LE: 118 ..PG: 04 ..PU: BT ..TX: KUOK Brothers Sdn Bhd has ceased to be the substantial shareholder in Pelangi Bhd when it disposed of 36.939...

Cahya Mata to list construction unit.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: Cahya Mata to list construction unit ..ZO: B-ALL ..LE: 131 ..PG: 04 ..PU: BT ..TX: CAHYA Mata Sarawak Bhd, a diversified Sarawak- based group, plans to sell shares in its construction and...

CIMB merges unit trust, asset management ops (HL).
May 31, 2005... (From Business Times (Malaysia)) Byline: ADELINE PAUL RAJ ..HL: CIMB merges unit trust, asset management ops (HL) ..ZO: B-ALL ..LE: 597 ..PG: 01 ..PU: BT ..TX: CIMB Bhd has become the first investment bank in Malaysia to merge its unit...

Windfall for MTD Capital shareholders.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: Windfall for MTD Capital shareholders ..ZO: B-ALL ..LE: 410 ..PG: 01 ..PU: BT ..TX: MTD Capital Bhd yesterday announced plans to pay back up to RM105.05 million cash to shareholders under a...

Ranhill seeks increase in Johor water tariffs.
May 31, 2005... (From Business Times (Malaysia)) Byline: KAMARUL YUNUS ..HL: Ranhill seeks increase in Johor water tariffs ..ZO: B-ALL ..LE: 408 ..PG: 02 ..PU: BT ..TX: RANHILL Utilities Bhd said it is applying to raise water rates in Johor beginning...

RM250m for water-related businesses.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: RM250m for water-related businesses ..ZO: B-ALL ..LE: 326 ..PG: 02 ..PU: BT ..TX: RANHILL Utilities Bhd, has set aside RM250 million to fund its water-related businesses this year. Its chief...

IJM to pay RM33m for stake in Kumpulan Europlus.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: IJM to pay RM33m for stake in Kumpulan Europlus ..ZO: B-ALL ..LE: 406 ..PG: 02 ..PU: BT ..TX: CONSTRUCTION firm IJM Corp Bhd will buy a quarter of rival Kumpulan Europlus Bhd for RM33.1...

Builder to take stake in highway concession.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: Builder to take stake in highway concession ..ZO: B-ALL ..LE: 106 ..PG: 02 ..PU: BT ..TX: IJM Corp Bhd said it has signed a memorandum of agreement to take up a stake in a new company which...

Protasco expects big jump in revenue.
May 31, 2005... (From Business Times (Malaysia)) Byline: AZLAN ABU BAKAR ..HL: Protasco expects big jump in revenue ..ZO: B-ALL ..LE: 384 ..PG: 04 ..PU: BT ..TX: ROAD maintenance company Protasco Bhd is confident of posting a substantial revenue jump in...

Lion Corp makes higher net profit for nine months.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: Lion Corp makes higher net profit for nine months ..ZO: B-ALL ..LE: 142 ..PG: 04 ..PU: BT ..TX: LION Corp Bhd yesterday said it made a higher net profit of RM205.7 million and an earnings...

Golden Hope Q3 earnings double.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: Golden Hope Q3 earnings double ..ZO: B-ALL ..LE: 118 ..PG: 04 ..PU: BT ..TX: GOLDEN Hope Plantations Bhd's net profit at the end of the third quarter has doubled, due mainly to the sale of...

Jetwork Eng secures Plaza Rakyat contract.
May 31, 2005... (From Business Times (Malaysia)) Byline: CHONG POOI KOON ..HL: Jetwork Eng secures Plaza Rakyat contract ..ZO: B-ALL ..LE: 311 ..PG: 04 ..PU: BT ..TX: A LITTLE-KNOWN newly-formed company that counts a former minister as a director has...

DRB-HICOM records lower earnings.
May 31, 2005... (From Business Times (Malaysia)) Byline: ..HL: DRB-HICOM records lower earnings ..ZO: B-ALL ..LE: 427 ..PG: 06 ..PU: BT ..TX: DRB-HICOM Bhd's net profit for the year ended March 31 2005 was lower at RM141.41 million from RM194.92...

BSA to bring in another China car.
May 31, 2005... (From Business Times (Malaysia)) Byline: ZURAIMI ABDULLAH ..HL: BSA to bring in another China car ..ZO: B-ALL ..LE: 443 ..PG: 06 ..PU: BT ..TX: BSA International Bhd executive chairman Datuk Dr Cam Soh Thiam Hong is bringing in another...