JP\/14\/biz<\/p>\n
Unocal, Pelangi sign MoU on clean energy<\/p>\n
JAKARTA: Unocal North Sumatra Geothermal Ltd agreed to let its
\ngeothermal power plant, Sarulla, in North Sumatra become a pilot
\nproject for generating electricity with low emissions in an
\nagreement with Pelangi, a non governmental organization.<\/p>\n
Last week's Memorandum of Understanding would turn Sarulla
\ninto a Clean Development Mechanism (CDM) project, a statement by
\nPelangi said on Tuesday.<\/p>\n
As part of the Kyoto Protocol -- a convention to reduce
\nemissions worldwide -- the CDM project tracks the amount of
\npollutants reduced compared to, if Sarulla had used coal instead
\nof geothermal to generate electricity, said Olivia a spokesperson
\nat Pelangi.<\/p>\n
Sarulla's owners could convert the amount of reduced emission
\ninto credit points to sell them.<\/p>\n
Buyers, Olivia said, would be developed countries under the
\nKyoto Protocol that could use the credit points to meet their
\nemission reduction targets. --JP<\/p>\n
WorldCom's Yates admits guilt in fraud case<\/p>\n
NEW YORK: WorldCom Inc.'s former director of general
\naccounting pleaded guilty on Monday to two felony charges
\nconnected with the accounting fraud that led to the telephone
\ncompany's collapse.<\/p>\n
Buford Yates entered guilty pleas to one charge of conspiracy
\nto commit securities fraud and one charge of securities fraud.
\nYates made the pleas in an appearance before U.S. Magistrate
\nJudge Andrew Peck in Manhattan.<\/p>\n
The conspiracy charge carries a maximum penalty of five years
\nin prison and a US$250,000 fine, while the fraud charge carries a
\nmaximum of 10 years in prison and a $1 million fine.<\/p>\n
In August, a grand jury indicted Yates and WorldCom's former
\nchief financial officer, Scott Sullivan, on fraud and conspiracy
\ncharges. The men were charged with scheming to hide billions of
\ndollars in expenses, inflating the earnings of the No. 2 U.S.
\nlong-distance phone company and helping to precipitate its
\ncollapse this summer into the world's largest bankruptcy filing.<\/p>\n
Yates initially had pleaded not guilty to those charges.
\nSullivan also has pleaded not guilty. -- Reuters<\/p>\n
Deutsche Telekom keep 3 bidders for cable TV sale<\/p>\n
BONN: The German telecommunications giant Deutsche Telekom
\nsaid Monday it had decided to retain three bidders for the final
\nnegotiations over the sale of its television cable networks.<\/p>\n
Deutsche Telekom, which hopes to use the proceeds from the
\nsale to reduce its debt burden, did not reveal the names of the
\npotential buyers, but said in a statement it had chosen the three
\nmost attractive bids.<\/p>\n
According to recent German press reports, the three bidding
\nconsortia are: Goldman Sachs in conjunction with Apax Partners;
\nU.S. cable operator Liberty Media in conjunction with private
\nequity firms Apollo and Blackstone; and BC Partners and GMT.<\/p>\n
The German giant did not say when it expected to finalize the
\nsale, but industry analysts are counting on a deal by the end of
\nthe year.<\/p>\n
At the end of August, Deutsche Telekom said it hoped to raise
\n2.5-3.5 billion euros (US$2.4-3.4 billion) from the sale, much
\nlower than its original asking price of 5.5 billion euros.<\/p>\n
However, Deutsche Telekom remained upbeat in the statement,
\ninsisting that \"the bids show that the cable TV business is still
\nof great interest for investors, despite the difficult economic
\nsituation.\"<\/p>\n
Deutsche Telekom's net debt currently stands at around 64
\nbillion euros. --AFP<\/p>\n
Singapore telecom firm wants 3G rollout deadline dropped<\/p>\n
SINGAPORE: Singapore's StarHub said Tuesday the rollout
\ndeadline for third generation (3G) mobile networks should be
\nremoved to give telecoms providers more flexibility.<\/p>\n
\"Frankly, consumers do not care what we use for our
\ninfrastructure technology,\" StarHub's president and chief
\nexecutive Terry Clontz said.<\/p>\n
\"It is the availability and price of data enabled handsets,
\nuseful applications, and premium content that will drive consumer
\ndemand, whatever underlying technology is used to provide it,\" he
\nsaid in a statement.<\/p>\n
One of three mobile service operators in the city-state,
\nStarHub has written to the Infocomm Development Authority (IDA)
\n-- industry watchdog -- to \"formally request\" the December 31,
\n2004 deadline be abolished, the statement said.<\/p>\n
In separate submissions to the IDA this year, StarHub and
\nrival Singapore Telecommunications (SingTel) said 3G rollout
\nschedules should be commercial decisions for individual companies
\nbut their arguments were rejected by the IDA.<\/p>\n
SingTel, StarHub and MobileOne Asia each paid S$100 million
\n(US$56 million) a year ago for a 3G license, with a fourth
\nlicense on offer failing to attract solid interest.--AFP<\/p>\n
Boeing to tap into Asia<\/p>\n
KUALA LUMPUR: United States airplane-maker Boeing hopes to
\ngain a strong foothold for future ventures in Southeast Asia with
\nthe official launch of its regional headquarters in Kuala Lumpur
\nTuesday.<\/p>\n
The Malaysian office would be the base for its businesses in
\nthe region, which includes Singapore, Thailand, the Philippines,
\nIndonesia, Brunei, Vietnam, Cambodia and Laos.<\/p>\n
Boeing Southeast Asia Vice President Paul Walters said that
\nthe move to set up the office would provide the aerospace company
\nvast opportunities to tap into the region.<\/p>\n
\"If Boeing wants to compete, it would have to relocate to an
\nefficient and cost-effective place. To us, Malaysia fits the
\nbill,\" Walters was quoted by the Star newspaper as saying on
\nMonday.--DPA<\/p>\n
Tanker blast not due to sabotage:PM<\/p>\n
KUALA LUMPUR: Malaysia's state-owned oil company Petronas does
\nnot suspect the explosion aboard a supertanker off Yemen was
\ncaused by sabotage, Prime Minister Mahathir Mohamad said on
\nTuesday.<\/p>\n
The French-flagged supertanker Limburg, carrying 400,000
\nbarrels of crude and chartered by Petronas Nasional Bhd, was
\nablaze off the coast of Yemen after an explosion on Sunday, and
\nthe ship's owners said they thought terrorists using a boat could
\nhave been responsible.<\/p>\n
\"Petronas did not suspect any sabotage,\" Mahathir was quoted
\nby the official Bernama news agency as saying. Mahathir added
\nthat the explosion could easily have been caused by a small fire
\ndue to a short-circuit.<\/p>\n
Petronas did not incur big losses from the fire as the cargo
\nhad been insured, he said. --Reuters<\/p>",
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