Eka Life launches Excellink<\/p>\n
JAKARTA: Eka Life insurance, a joint venture between Sinar Mas
\nGroup of Indonesia and Ayala Group of the Philippines, launched
\non Monday a new life insurance product that combines protection
\nand investment services.<\/p>\n
CEO Willy Nusantara told a press conference that the new
\nproduct, called Excellink, offers insurance coverage for death
\ncaused either by illness or accidents and benefits from the funds
\ninvested in various investment products with a tenure of 18
\nyears.<\/p>\n
Just like savings in banks, policy holders are free to
\nincrease or withdraw their funds anytime, he said.<\/p>\n
He said the introduction of Excellink was expected to help
\nincrease the company's premiums income from over Rp 150 billion
\n(US$ 16.67 million) as of the start of this year to Rp 400
\nbillion as of the end of the year.<\/p>\n
\"We hope we can generate Rp 150 billion in premiums from
\nExcellink alone,\" he said.<\/p>\n
Eka Life, whose risk-based capital reached 129 percent as of
\nlast December -- far higher than the 75 percent required by the
\ngovernment -- now operates 60 branches throughout the country and
\nhires about 3,000 employees. --JP<\/p>\n
;AFP;
\nANPAf..r..
\nCorporateBrief-Agilent-revenues
\nAgilent sees growing revenues
\nJP\/14\/Brief<\/p>\n
Agilent sees growing revenues<\/p>\n
SINGAPORE: U.S.-based tech giant Agilent Technologies said
\nTuesday it expects 40 percent of its total revenues to come from
\nAsia by 2005, cushioning sluggish sales in the U.S. and European
\nmarkets.<\/p>\n
The Nasdaq-listed firm is also planning to transplant more of
\nits manufacturing operations from the United States to the region
\nto lower its operating costs, chairman and chief executive Ned
\nBarnholt said.<\/p>\n
\"Asia is continuing to grow while other parts of the world are
\nflat to declining,\" he said, adding the company is seeing \"very
\ngood growth\" in China and South Korea.<\/p>\n
Agilent currently gets slightly more than 30 percent of its
\nrevenues from Asia.<\/p>\n
Barholt, who was here to mark the opening of the firm's US$92
\nmillion plant in Singapore, said revenues from the city-state had
\ngrown 40 percent in the past two years.<\/p>\n
Asia was the bright spot for the technology equipment maker as
\nsales orders in the region rose seven percent in the first
\nquarter to January while in the Americas it fell 22 percent and
\nin Europe sales were flat. --AFP<\/p>\n
;AFP;
\nANPAf..r..
\nCorporateBrief-Repsol-profits
\nRepsol doubles net profits
\nJP\/14\/Brief<\/p>\n
Repsol doubles net profits<\/p>\n
MADRID: Spanish oil company Repsol YPF nearly doubled net profits
\nlast year with a one-off asset sale, the company said on Tuesday,
\nbut operating profits fell by almost a third.<\/p>\n
Repsol's net profit of 1.95 billion euros (US$2.09 billion)
\nwas up by 90.4 percent on the previous year but disappointed
\nanalysts, who had predicted a net profit of about 2.2 billion
\neuros after the sale of a 23-percent stake in gas group Gas
\nNatural for 1.09 billion euros.<\/p>\n
Operational profits fell 32.5 percent to 3.32 billion euros,
\nthe company said.<\/p>\n
Repsol is the biggest Spanish oil company, with heavy exposure
\nto Latin America through its operations in countries such as
\nBrazil and Argentina -- where it extracts around half of the oil
\nit exports.<\/p>\n
The company on Tuesday characterized its 2002 strategy as
\n\"financial prudence and the handling of the Argentinian crisis\".<\/p>\n
Repsol also said it had more than halved its debt to 7.47
\nbillion euros in December, from 16.5 billion a year earlier --
\nhelped by the euro's increases against the dollar. --AFP<\/p>",
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