Motorola launches four products<\/p>\n
JAKARTA: Motorola launched on Monday a series of new products
\nin response to the skyrocketing sales of cellular phones in
\nIndonesia.<\/p>\n
The four new products are the C330, E360, V60i and T720
\nmodels, and were expected to capture much of the market share
\nfrom other competitors in the country, an executive said here,
\nadding that the company had funded a promotion campaign worth
\nUS$1 million this year in an effort to win the Indonesian market.<\/p>\n
"We are optimistic that Motorola will be in second position in
\nour target market," Motorola Asia-Pacific vice president Alan Goh
\nsaid.<\/p>\n
The Indonesian Cellular Phone Association recently reported
\nthat cellular subscribers in Indonesia had jumped to 8.1 million
\nin the first half of the year from 6.5 million by the end of last
\nyear. -- JP<\/p>\n
Mandala on-time performance rises<\/p>\n
JAKARTA: PT Mandala Airlines's on-time performance rose to 85
\npercent over the past three months following an improvement in
\nits check-in procedure.<\/p>\n
The punctuality rose after the airline obliged passengers to
\nconfirm check-in one hour before flights, the company said in a
\nstatement.<\/p>\n
In August this year, the airline received the "best customer
\nappreciation award" from state-owned airport operator PT Angkasa
\nPura for its punctuality.<\/p>\n
Mandala Airlines is one of the country's biggest domestic
\nairlines and has been operating since 1969.<\/p>\n
The company currently serves 13 cities: Jakarta, Medan,
\nPadang, Makassar, Semarang, Surabaya, Denpasar, Manado, Batam,
\nBalikpapan, Banjarmasin, Pekanbaru and Jambi. -- JP<\/p>\n
RI's Salim eyes stake in China COSCO<\/p>\n
SHANGHAI, CHINA: Indonesia's Salim Group has signed an initial
\nagreement to buy a 45 percent stake in COSCO Property Group for
\nUS$500 million, the weekly 21st Century Business Herald reports,
\nwithout citing any named source.<\/p>\n
COSCO Property is a 45 percent-owned affiliate of China Ocean
\nShipping (Group) Co., a large conglomerate with international
\nshipping as its core business.<\/p>\n
The report said Salim Group will buy at least a 38.24 percent
\nstake from COSCO Property's second-biggest shareholder, Shanghai
\nCOSCO. The report didn't say where Salim will buy the remaining
\n6.76 percent stake.<\/p>\n
COSCO Property is the biggest shareholder of A-share listed
\nCosco Development Co., owning a 56.16 percent stake.<\/p>\n
An official at COSCO Development said the company has yet to
\nreceive any notice regarding a change in the shareholding
\nstructure of its majority shareholder. -- Dow Jones<\/p>\n
Bank Kesawan to offer 78.80 million shares<\/p>\n
JAKARTA: Indonesia's PT Bank Kesawan will offer 78.80 million
\nshares in an initial public offering scheduled for late November,
\nthe bank said Monday.<\/p>\n
As a sweetener, the bank will attach three free warrants on
\nevery two shares which will entitle the warrant holder to buy one
\nshare for each warrant in the future at a discount.<\/p>\n
The bank hasn't decided the price of the shares.<\/p>\n
Bank Kesawan added it will use 60 percent of the proceeds to
\nboost new loans, and the remaining 40% to open new branches and
\nfinance human resource development.<\/p>\n
The bank has named PT Victoria Sekuritas and PT Kapita
\nSekurindo as lead underwriters for its offering. -- Dow Jones<\/p>\n
Chinese oil firm invites foreigners for exploration<\/p>\n
HONG KONG: China National Offshore Oil Co. (CNOOC) is inviting
\nforeign companies to tender for exploration and development work
\nin the South China Sea, its Hong Kong-listed firm CNOOC Ltd. said
\nMonday.<\/p>\n
China's major offshore oil and gas producer said the tender is
\nfor 12 virgin deepwater oil and gas blocks in the South China
\nSea.<\/p>\n
"Exploration in this area will help tap the unexploited
\npotential in offshore China. We welcome experienced companies
\nwith strong track record in deepwater exploration to partner with
\nus in the exploration work," CNOOC executive vice-president Ru Ke
\nsaid.<\/p>\n
No meaningful exploration work has been done in these
\ndeepwater blocks so far, the company said in a statement.<\/p>\n
CNOOC will own all the working interests caused by the
\nexploration and development activities, according to the
\nstatement. -- AFP<\/p>\n
Honda's motorbike plant in Vietnam to remain shut<\/p>\n
HANOI: Japanese auto giant Honda Motor Co. Ltd. said Monday
\noperations at its motorcycle factory in Vietnam will remain
\nsuspended for the foreseeable future as a result of government
\nrestrictions on auto part imports.<\/p>\n
"We are taking matters on a day-to-day basis and negotiations
\nare ongoing with the government to get them to try and understand
\nour position. Other motorcycle manufacturers are also similarly
\naffected," said Honda's spokesman.<\/p>\n
Last Wednesday, Honda Vietnam, which dominates the local
\nmarket with its top-selling Wave Alpha model, said it had
\ntemporarily shut down its motorbike manufacturing operations in
\nVinh Phuc province, west of Hanoi.<\/p>\n
The decision was taken after the government's decision earlier
\nthis month to slash the number of sets of parts that motorbike
\nassemblers could import during 2002 from 2.5 million to 1.5
\nmillion. -- AFP<\/p>\n
HK labour groups warn of eroding labour rights<\/p>\n
HONG KONG: International labour organizations on Monday warned
\nof eroding labour practices in Hong Kong, citing the ongoing
\ndispute between Cathay Pacific Airways Ltd. and its pilots.<\/p>\n
The labour groups said the Cathay pilots dispute over pay and
\nroistering exemplified the worsening problem of "eroding labour
\npractices in Hong Kong, an environment in which global businesses
\nare free to exploit workers due to lax labour laws and little
\nprotection from government agencies."<\/p>\n
The statement was from labour groups including the
\nInternational Federation of Air Line Pilots Associations and
\ngroups from Asia, Australia, Canada, Finland, New Zealand, Spain,
\nSwitzerland, Britain and the United States. -- AFP<\/p>",
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