Meshindo to enter Australia<\/p>\n
JAKARTA (JP): PT Meshindo Alloy Wheel Corp., a Surabaya-based
\nproducer of automotive rims, yesterday appointed Bob Jane T-Marts
\nof Australia as its sole agent for marketing distribution in
\nAustralia.<\/p>\n
Meshindo's president, Tirta Soewardi, signed a memorandum of
\nunderstanding with the general manager of the Australian company,
\nBrian Connel, in a ceremony in Surabaya yesterday. He said in a
\nstatement that Meshindo will export 36,000 rims worth about US$20
\nmillion to Australia annually.<\/p>\n
Soewardi said his company plans to increase its annual
\nproduction capacity from 300,000 to 400,000 rims, of which 80
\npercent will be exported to Japan, the United States and European
\ncountries. (09)<\/p>\n
Amway goes to Yogyakarta<\/p>\n
JAKARTA (JP): Amway, a direct selling company of the United
\nStates, expanded its distribution network to Yogyakarta yesterday
\nto handle the increasing demand for its more than 50 different
\nproducts in Indonesia.<\/p>\n
Frank Reuneker, the president of PT Amindoway Jaya, the sole
\ndistributor of Amway products, said that out of the 40,000 Amway
\ndistributors in Indonesian, 20 percent are in Yogyakarta.<\/p>\n
Amway offers various products, including those for home care,
\ncar care, personal care and the kitchen.<\/p>\n
Amway is now marketing its products in 31 countries through
\nmore than two million distributors with annual sales of US$4.5
\nbillion. Its sales in Indonesia are estimated to be Rp 40 billion
\n(US$18.6 million) this year.(09)<\/p>\n
Processing at U.S. airports<\/p>\n
HOUSTON (Reuter): An airports industry group is promoting new
\ntechnology that would cut the time it takes an arriving passenger
\nto leave an airport to 45 minutes at the most, its director said
\nSunday.<\/p>\n
Oris Dunham, director-general of the Geneva-based Airports
\nCouncil International (ACI), said before the start of an ACI
\ntechnology seminar his group is working with airlines and air
\ncontrol authorities to promote new technology and automation.<\/p>\n
Such technology would make possible a maximum clearance time
\nof 45 minutes between the time a passenger leaves an airplane,
\nclears customs, collects luggage and is ready to leave the
\nairport, he told reporters.<\/p>\n
Clearance time is now much longer for millions of passengers
\nin the United States and abroad, said Hubert Andrade, deputy vice
\npresident for commercial operations for Paris airports.<\/p>\n
\"It's important for the passenger that he not spend more time
\nwaiting for luggage than he spends flying from Point A to Point
\nB,\" Andrade said.<\/p>\n
Vietnam industrial output up<\/p>\n
HANOI (Reuter): Vietnam's industrial output increased by 12.1
\npercent in the first four months of 1994 over the same period
\nlast year, and prospects for food production and inflation levels
\nare good, the government said yesterday.<\/p>\n
A 20.8 percent surge in output of crude oil, the main export
\nitem, led the rise in industrial production, official Vietnam
\nNews said, quoting the General Department of Statistics.<\/p>\n
Production figures were not given, but the percentage increase
\nappeared to indicate Vietnam was ahead of its 1994 target of 7.3
\nmillion tons this year from its offshore fields in the South
\nChina Sea, 15.8 percent up on the 1993 figure of 6.3 million
\ntons.<\/p>\n
Cement production was up 15 percent in January-April, coal 4.3
\npercent and electricity 9.6 percent, Vietnam News said.<\/p>\n
State-owned industries out-performed the private sector, it
\nsaid, with 13.7 percent higher output compared with private
\nfirms' 9.7 percent.<\/p>\n
Inflation rose 5.4 percent in the first four months of the
\nyear, compared with 3.0 percent in the same period of 1993, the
\nreport said.<\/p>\n
S'pore slams Malaysia<\/p>\n
SINGAPORE (AFP): Singapore has criticized Malaysia's decision
\nto ban imports of certain plastic resins, saying it runs counter
\nto efforts to create an ASEAN Free Trade Area (AFTA), a newspaper
\nreported yesterday.<\/p>\n
Trade and Industry Minister Yeo Cheow Tong said in an
\ninterview with the Straits Times daily that the move was
\n\"contrary to the spirit of AFTA, and may provide other countries
\nwith a convenient excuse to erect new trade barriers.\"<\/p>\n
Singapore and Malaysia are members of the Association of
\nSoutheast Asian Nations (ASEAN), which has launched a tariff-
\ncutting program to create a free trade area of 300 million people
\nwithin 15 years.<\/p>\n
Other ASEAN members are Brunei, Indonesia, the Philippines and
\nThailand.<\/p>\n
Malaysia introduced an Approved Permit System on April 7,
\nrequiring companies to obtain government permission to import
\ncertain grades of petrochemicals not produced in Malaysia.<\/p>\n
The move, aimed at protecting the fledgling petrochemicals
\nindustry, comes on top of a 30 percent import duty on
\npolypropylene and polyethylene, which are used to produce plastic
\nbags.<\/p>\n
Shell flows gas in RP<\/p>\n
MANILA (AFP): A local subsidiary of the Royal Dutch Shell
\nGroup has flowed gas at a rate of 24.8 million cubic feet
\n(744,000 cubic metres) and condensate at 953 barrels per day
\n(bpd) at an offshore well in southwestern Philippines, the energy
\ndepartment said here yesterday.<\/p>\n
The gas find in the Malampaya-3 well, north of Palawan island
\ncame two weeks after the same firm, Shell Philippines
\nExploration, also struck oil at 5,487 bpd at the same site during
\nits first drill stem test.<\/p>\n
An industry source said the gas and condensate flows during
\nthe second and final drill stem test were \"significant\" because
\nthey confirmed the Malampaya-3 well contains both oil and gas.
\nCondensate can be purified to get oil.<\/p>\n
The source said the next step for Shell is to wrap up
\noperations at Malampaya-3 and drill a fourth well before it
\ndecides on commercial production.<\/p>\n
China imports to reach $1t<\/p>\n
HONG KONG (AFP): China is planning to import US$1 trillion in
\ngoods in the next seven years, a Chinese trade official said
\nyesterday.<\/p>\n
Zheng Silin, vice minister of foreign trade and economic
\ncooperation, told the opening of the Hong Kong '94 China Trade
\nand Investment Conference that imports were worth $104 billion
\nlast year.<\/p>\n
He said China's basic policy for foreign trade was to strike a
\nbalance between imports and exports provided it had necessary
\nforeign reserves.<\/p>\n
China suffered a trade deficit of $12 billion last year due to
\nincreases in import as a result of rapid economic development in
\nChina, Zheng said, but it still ranks the 11th largest trader in
\nthe world with a total import and export value of $195.8 billion
\nlast year.<\/p>\n
Zheng said China's economic reforms would take full
\nconsideration of foreign investors and were aimed at creating an
\ninvestment climate in which enterprises operated under
\ninternational norms.<\/p>\n
Rubber prices easier<\/p>\n
SINGAPORE (AFP): Singapore rubber futures prices finished
\neasier yesterday hit by news of union problems suffered by major
\ntire manufacturers in the United States, dealers said.<\/p>\n
\"It was all sellers and no buyers. Manufacturers refused to
\nbuy,\" one dealer said.<\/p>\n
At around 0930 GMT, Basis July RSS 1 was quoted at 138.75
\nSingapore cents and RSS 3 at 95.25 US cents while TSR 20 was
\nunquoted.<\/p>\n
India's farm exports rise<\/p>\n
NEW DELHI (AFP): India's farm exports almost tripled in value
\nbetween April 1993 and January this year, to US$2.8 billion from
\nthe previous year, an official report said here yesterday.<\/p>\n
Increased overseas sales of long-grained rice, spices,
\nvegetable oils and fresh and processed fruits were responsible
\nfor the steep rise from $1.01 billion, it said.<\/p>\n
The top earner was fine-grain rice, which fetched $293 million
\nfor 455,000 tons, against $212 million for 247,000 tons a year
\nearlier, the statement said.<\/p>\n
Spice exports rose to $153 million in the nine-month period
\nfrom $99 million in the previous year, it added. Overseas sales
\nof tinned fruits and processed foods also spiraled.<\/p>\n
The share of farm products in national exports grew from 13.39
\npercent between April 1992 and January 1993, to 15.51 percent a
\nyear later, it said.<\/p>\n
India's antiquated farming system, heavily dependent on rain
\nwater for irrigation, barely produces enough for the second most
\npopulous country in the world.<\/p>",
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