Indian firm
\nsubmits Medco bid<\/p>\n
NEW DELHI: Indian Oil Corp., which controls half of the
\nnation's US$15 billion a year fuel market, submitted a final bid
\nto buy a stake in Indonesia's PT Medco Energi International, N.K.
\nNayyar, director for planning and business development at the
\nIndian company, told reporters in New Delhi.<\/p>\n
PT Medco is Indonesia's biggest oil company.<\/p>\n
Indian Oil, Oil & Natural Gas Corp. and other Indian oil
\ncompanies are buying oil exploration assets overseas to secure
\nsupplies. India, Asia's third biggest oil consumer after China
\nand Japan, imports 70 percent of its annual crude requirement.<\/p>\n
India is likely to import 100 million tons of crude oil for
\nthe fiscal year ending March, 11 percent more than a year ago.
\n-- Bloomberg<\/p>\n
;AP;
\nANPAf..r..
\nBrief-ASIA-PULP
\nAsia Pulp Units Seek Agreement on Lower Rupiah Bond Payment
\nJP\/14\/Brief<\/p>\n
APP units seek
\nto lower payment<\/p>\n
JAKARTA: PT Pabrik Kertas Tjiwi Kimia and PT Pindo Deli Pulp &
\nPaper Mills, two of four Asia Pulp & Paper Co.'s operating units
\nin Indonesia, are seeking an agreement with their rupiah
\nbondholders today for lower interest payments.<\/p>\n
Tjiwi Kimia and Pindo plan to continue paying interest on a
\ncombined Rp 400 billion (US$43.5 million) of bonds, at 2
\npercentage points more than the three-month central bank bill
\nrate, starting in October, Yan Partawidjaja, a spokesman from
\nAsia Pulp's parent, the Sinar Mas group, said in Jakarta.<\/p>\n
The new interest rate would be lower than the 17 percent paid
\npreviously to rupiah bondholders under a January 2002 agreement.
\nStill, it is higher than what foreign creditors would receive
\nunder a debt-repayment plan proposed in 2003. -- Bloomberg<\/p>\n
;AFP;
\nANPAf..r..
\nBrief-China-bonds
\nChina Development Bank issues 1 billion dollars in global bonds
\nJP\/14\/Brief<\/p>\n
Chinese bank to
\nissue $1b bonds<\/p>\n
BEIJING: The China Development Bank (CDB), the largest of
\nChina's three policy banks, issued US$1.0 billion in global bonds
\nin New York, with Goldman Sachs and other top investment banks as
\nmajor underwriters, state press reported Wednesday..<\/p>\n
The offer comprises 600 million dollars in 10-year bonds with
\na coupon or interest rate of 4.75 percent and 325 million euros
\nin 5.5-year bonds at 3.875 percent, Xinhua news agency reported.<\/p>\n
This is the first time the CDB has raised funds on the
\ninternational capital markets since 2000, it said.<\/p>\n
The funds will be used to support China's infrastructure
\nfacilities and industries, as well as pillar industries, the bank
\nsaid. -- AFP<\/p>\n
;AFP;
\nANPAf..r..
\nBrief-Philippines-WBank
\nWorld Bank arm to invest in Philippine fast food chain Jollibee:
\nJP\/14\/Brief<\/p>\n
IFC to invest
\nin Jollibee<\/p>\n
MANILA: The World Bank's private sector financing arm will put
\nsome of the US$100 million it plans to invest in the Philippines
\ninto local fast food chain Jollibee Foods, a report said on
\nWednesday.<\/p>\n
International Finance Corporation (IFC) country manager Vipul
\nBhagat told the BusinessWorld newspaper the body wants to help
\nboth the company expand in the provinces and entrepreneurs who
\nwant to run their own Jollibee restaurants.<\/p>\n
\"We want to provide business support to Jollibee while giving
\nassistance to small and medium enterprises (SMEs),\" Bhagat was
\nquoted as saying. -- AFP<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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