Listed firms win awards<\/p>\n
JAKARTA (JP): Ten publicly listed companies, including several
\nstate-owned enterprises, have won awards for implementing good
\ncorporate governance.<\/p>\n
The corporate governance awards were distributed by local
\ncorporate governance watchdog the Indonesian Institute for
\nCorporate Governance (IICG).<\/p>\n
The awards were the first of their kind to be given out by the
\nagency, which plans to grant similar awards annually.<\/p>\n
\"Hopefully, these awards will help revive investor confidence
\nin Indonesian companies,\" Herwidayatmo, chairman of the Capital
\nMarket Supervisory Body (Bappepam), said after the award
\npresentation ceremony on Thursday.<\/p>\n
\"Foreign investors only make up less than 10 percent of
\ncapital investment in the Indonesian market, while domestic
\nplayers contribute the remaining 90 percent,\" he added.<\/p>\n
The ten companies are state mining company PT Timah,
\nautomotive company PT Astra International, banking firm PT BCA,
\nbanking firm PT Bank CIC, state mining company PT Aneka Tambang,
\nenergy firm Medco Energy International, computer firm Metrodata
\nElectric, retailer PT Matahari Prima Putra, state drug company PT
\nKalbe Farma and the widely diversified business group PT
\nBimantara. (10)<\/p>\n
;JP;10;
\nANPAf..r..
\nBizbrief-Taiwan-RI-export
\nKDEI aids export to Taiwan
\nJP\/12\/Taiwan<\/p>\n
KDEI aids export to Taiwan<\/p>\n
JAKARTA (JP): The Indonesian Commerce and Economy Body (KDEI)
\nhas launched various programs to help boost Indonesian exports to
\nTaiwan, KDEI said in a statement on Thursday.<\/p>\n
The programs include promotion of Indonesian products in
\nTaiwan, providing greater information and expanding export
\ncommodities.<\/p>\n
KDEI said there was plenty of room to improve trade relations
\nbetween the two countries.<\/p>\n
In the first quarter of 2001, the value of Indonesia's exports
\nto Taiwan reached US$832.52 million, while imports from Taiwan
\nstood at $502.04 million.<\/p>\n
Exports included metal ore, coal and shoes.<\/p>\n
KDEI also said that it had arranged for Indonesian exporters
\nto take part in an economic exhibition initiated by the China
\nExternal Trade Development Council (CETRA), where as many as 35
\ncountries participated.(10)<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-Japan-telecom
\nVodafone buys Japan Telecom
\nJP\/11\/Colbox<\/p>\n
TOKYO (AFP): Britain's mobile phone giant Vodafone Group plc
\nsaid Thursday it would pay up to US$2.6 billion to take control
\nof Japan Telecom Co, the country's third largest
\ntelecommunications carrier.<\/p>\n
In an agreed deal, Vodafone will offer to acquire up to
\n693,368 Japan Telecom ordinary shares, or 21.7 percent of the
\ntotal, for 312 billion yen ($2.6 billion), the British company
\nsaid in a statement.<\/p>\n
The firm is already Japan Telecom's largest shareholder with a
\n45 percent stake and the bid, if successful, would boost its
\nholding to 66.7 percent, giving Vodafone management control. The
\nBritish company would also become the largest foreign direct
\ninvestor in Japan.<\/p>\n
The group has offered 450,000 yen a share, an 18.8 percent
\npremium on the stock's closing price Thursday of 378,800 yen.<\/p>\n
\"(It is) a 37 percent premium to the average closing share
\nprice over the 20 trading days up to and including Wednesday 19
\nSeptember,\" Vodafone said.<\/p>\n
The chairman and president of Japan Telecom will step down to
\nbe replaced by Vodafone-nominated officials once the deal is
\nfinalized, the firms said in a joint statement.<\/p>\n
;AP;
\nANPAf..r..
\nBizbrief-HK-Telecoms
\nHK awards 3G licenses
\nJP\/11\/Colbox<\/p>\n
HONG KONG (AP): Without holding an auction, the Hong Kong
\ngovernment allocated four third-generation mobile licenses to the
\nonly four companies that bid for them.<\/p>\n
The licenses went to Hutchison 3G HK, a venture between local
\nconglomerate Hutchison Whampoa Ltd. and Japan's NTT DoCoMo; CSL
\nLtd., a joint venture between Australia's Telstra Corp. and local
\ncarrier Pacific Century CyberWorks Ltd.; and local firms Smartone
\nTelecommunications Holdings Ltd. and Sunday Communications Ltd.<\/p>\n
Futuristic 3G telephone networks use technology that brings
\nthe Internet to mobile phones, thus allowing users to send large
\namounts of information, such as video, though their mobiles.<\/p>\n
All the winners in Hong Kong have existing mobile operations
\nin the Hong Kong market and will be required to prove they are
\nnot linked to other winners before the decision becomes final,
\nthe government said Wednesday.<\/p>\n
The licenses should be issued before the end of the year, it
\nsaid.<\/p>\n
;REUTERS;
\nANPAf..r..
\nBizbrief-Japan-EU
\nJapan Tobacco sues EU
\nJP\/11\/Colbox<\/p>\n
BRUSSELS (Reuters): Japan Tobacco Inc, makers of Camel,
\nWinston and Mild Seven cigarettes, said on Thursday it had
\nlaunched a legal challenge to a new European Union law banning
\nterms like \"mild\" or \"light\" on cigarette packets.<\/p>\n
The law, which was passed earlier this year and is due to come
\ninto force in 2003, will force tobacco companies to display big,
\nclear health warnings and stop them making claims about the
\nrelative safety of their products.<\/p>\n
Japan Tobacco and its JT International subsidiary will argue
\nat the EU's Court of First Instance that the law will unfairly
\nban it from selling Mild Seven, the world's second-best selling
\ncigarette after Marlboro.<\/p>\n
\"(The law) would preclude JT and JTI from having in Europe the
\nbenefit of the acquired intellectual property established in the
\nMild Seven trademark and cause severe damage to the global value
\nof the brand as it will no longer be possible to develop and
\nmarket it as such,\" JTI said in a statement.<\/p>\n
The law, part of an EU regulatory assault on smoking, has
\nalready been challenged by British American Tobacco Plc and
\nImperial Tobacco.<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-S'pore-Mitsui
\nMitsui invests in S'pore
\nJP\/11\/Colbox<\/p>\n
SINGAPORE (AFP): Mitsui Chemicals Inc. of Japan broke ground
\nThursday on a US$100-million elastomer plant in Singapore which
\nwill start producing for the global market in 2003.<\/p>\n
Officials said the plant, being built on a massive
\npetrochemical complex off mainland Singapore, will have a
\ncapacity to produce 100,000 tons per year of TAFMER, a patented
\nplastic product.<\/p>\n
TAFMER can be used as a lightweight and flexible molding
\nmaterial and as a resin modifier which, when used with
\npolyethylene and polypropylene, improves impact strength and
\nflexibility, Mitsui officials said.<\/p>\n
Mitsui has set up a subsidiary, Mitsui Elastomers Singapore
\nPte. Ltd. to operate the plant. About 40 percent of its output
\nwill be destined for Asian markets, 25 percent for Japan, and the
\nrest for the US and European markets.<\/p>\n
The new plant is Mitsui Chemicals' third full-scale
\nmanufacturing facility in Singapore.<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-ADB-chairman
\nADB president re-elected
\nJP\/11\/Colbox<\/p>\n
MANILA (AFX-ASIA): Asian Development Bank said Tadao Chino has
\nbeen re-elected as president of the bank for a new five-year
\nterm.<\/p>\n
Chino, 67, was gratified by the bank's board of governors'
\ntrust in him and pledged to \"maximize ADB's contribution to
\nfreeing the Asia and Pacific region of poverty,\" ADB said in a
\nstatement.<\/p>\n
The bank said that under Chino's leadership, the ADB evolved a
\npoverty reduction strategy that became its overarching goal.<\/p>\n
It also adopted a strategy of strengthening the role of the
\nprivate sector as an engine for growth of the region, and set
\nout on a \"long-term strategic framework\" for implementing a
\npoverty reduction program until 2015, it said.<\/p>",
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"sponsor": "Okusi Associates",
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