Garuda's new subsidiary<\/p>\n
JAKARTA (JP): The national flag carrier Garuda Indonesia,
\nwhich recently bought a two-percent stake in the Singapore-based
\nAbacus company, is due to establish a new subsidiary to tackle
\nthe marketing of the Abacus' travel packages.<\/p>\n
"The subsidiary, to be named the National Marketing Company
\n(NMC), is expected to help Garuda offer air travel and service
\npackages, which have been thus far been managed directly by the
\nairline," Garuda's director for commercial affairs, Kussuyono,
\ntold the Antara news agency here yesterday.<\/p>\n
He said that the new subsidiary is needed because Abacus'
\nbusiness covers hundreds of hotels throughout the world and
\ndozens of airlines, including Singapore Airlines and Cathay
\nPacific.<\/p>\n
He said Garuda's two-percent stake in Abacus is worth US$18
\nmillion. (fhp)<\/p>\n
Computer software showcase<\/p>\n
JAKARTA (JP): Independent software vendors from various
\ncountries will participate in a two-day software product
\nexhibition, called the Enterprise Solution Show, scheduled on
\nApril 14 at the Jakarta Hilton Convention Center.<\/p>\n
"The expo, which is the first of its kind in the country, will
\ndisplay various computer application systems. It will also
\nprovide an opportunity for domestic software producers to develop
\ntheir technology," Kusnadi Sukarja, operation director of PT
\nMetrodata Electronics, said here yesterday.<\/p>\n
He said seminars for computer assemblers, producers, and users
\nwill take place at the exhibition.<\/p>\n
The exhibition is being organized by Metrodata, an authorized
\ndistributor of various computer products, in cooperation with Sun
\nMicrosystems Inc. of the United States.(fhp)<\/p>\n
TNT expands in Asia<\/p>\n
SINGAPORE (UPI): TNT Express Worldwide announced yesterday
\nthat it will begin services five times a week to three more Asian
\ncapitals this month.<\/p>\n
The move is in line with TNT's original development plans,
\nsaid Paul Coutts, the company's country managing director.<\/p>\n
"Seoul, Jakarta and Hong Kong will be added to the existing
\nnetwork within the next six weeks or so," said Coutts.<\/p>\n
Services in Singapore, Taiwan, Hong Kong, Brunei and the
\nPhilippines were launched a year ago.<\/p>\n
Taiwan trade surplus falls<\/p>\n
TAIPEI (AFP): Taiwan's trade surplus plummeted 82.3 percent
\nfrom a year earlier to US$240 million in the three months to
\nMarch, the Finance Ministry said yesterday.<\/p>\n
The ministry said exports in the first quarter period advanced
\n0.4 percent to $20.13 billion while imports jumped 6.3 percent to
\n$19.89 billion.<\/p>\n
The trade gap between Taiwan and its largest trading partner,
\nthe United States, narrowed 55.1 percent to $590 million in favor
\nof the island during the same period, it said.<\/p>\n
The trade surplus with Hong Kong -- the main transshipment
\nport for commerce between Taiwan and China -- swelled 12.1
\npercent to $3.99 billion from two-way trade worth $4.71 billion.<\/p>\n
Taiwan's trade deficit with leading supplier Japan advanced
\n8.9 percent to $3.7 billion for the January-March period, it
\nsaid.<\/p>\n
Seoul to join OECD body<\/p>\n
SEOUL (AFP): South Korea will join the fiscal affairs
\ncommittee of the Organization for Economic Cooperation and
\nDevelopment (OECD) as an observer in June, the Finance Ministry
\nsaid yesterday.<\/p>\n
South Korea's invitation to join the OECD committee came at
\ntalks with organization officials in Seoul Wednesday, the
\nministry said.<\/p>\n
At the Seoul meeting, the grouping of 25 industrialized
\nnations invited South Korea to a committee plenary session in
\nParis on June 29 at which it will formally be offered observer
\nstatus, it said.<\/p>\n
S'pore-China telecom pact<\/p>\n
SINGAPORE (UPI): Singapore Telecom and China's Directorate
\nGeneral of Telecommunications (DGT) of the Ministry of Posts and
\nTelecommunications signed a memorandum of understanding yesterday
\nfor greater cooperation.<\/p>\n
Under the agreement, Singapore Telecom and DGT will develop
\nreliable, economical and effective telecommunications services,
\nSingapore Telecom announced in a press release.<\/p>\n
Other areas of cooperation include exchange of information on
\ntelecommunications developments and opportunities.<\/p>\n
Telecommunications traffic between the two countries has been
\ngrowing rapidly. Last year, the growth rate of more than 60
\npercent. Further growth is expected in view of increasing
\nbusiness ties between Singapore and China.<\/p>\n
Rubber prices ease<\/p>\n
SINGAPORE (AFP): Singapore rubber futures prices were marked
\ndown yesterday in line with weaker markets in Japan, dealers
\nsaid.<\/p>\n
Dealers said prices also edged lower on some hedge selling of
\nthe RSS 1 contract by European traders who were believed to have
\nreceived their shipment of latex.<\/p>\n
At around 0930 GMT, Basis May RSS 1 was quoted easier at
\n147.00 Singapore cents, RSS 3 at 92.25 U.S. cents and TSR 20 at
\n167.00 Singapore cents.<\/p>\n
Sharp shifts plants<\/p>\n
TOKYO (AFP): Japan's Sharp Corp. is shifting part of its
\ntelevision production in Malaysia and most of its facsimile
\nmachine production in France to the company's subsidiary in
\nSpain, a spokesman said yesterday.<\/p>\n
The spokesman said Sharp transferred annual output of 200,000
\ntelevisions to Sharp Electronica (Espana) SA late last year, more
\nthan 10 percent of the capacity of 1.9 million units at Sharp
\nRoxy Electronics Corp. (M) Sdn. Bhd.<\/p>\n
Sharp also plans to launch production of facsimile machines at
\nthe Spanish unit later this year.<\/p>\n
Output is targeted at 10,000 units a year and destined for the
\nEuropean market, the spokesman said, adding that Sharp
\nManufacturing France SA would continue making fax machines but
\nonly for the French market.<\/p>\n
CAL's profits decline<\/p>\n
TAIPEI (AFP): Taiwan's flag carrier China Airlines (CAL)
\nsuffered a 19.6 percent fall in pre-tax profit for 1993 to T$3.44
\nbillion (US$130 million) compared with a year earlier, company
\nofficials said yesterday.<\/p>\n
They attributed the decline from 1992's $4.28 billion and
\n1991's $4.7 billion to the international economic slowdown and
\ncut-throat competition in the airline industry.<\/p>\n
CAL, rated the world's fourth most profitable airline by
\nFortune magazine last year, estimated 1994 pre-tax profits at
\n$3.43 billion.<\/p>\n
The airline, capitalized at $9.7 billion, operates 31
\npassenger and cargo jets flying to 28 destinations and is
\nexpected to expand its fleet to 35 aircraft in coming years.<\/p>\n
To meet demand for its North American flights, it will lease a
\nBoeing 747-400 passenger plane from Singapore Airlines.<\/p>",
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