Pertamina to bid for oil fields in Egypt<\/p>\n
JAKARTA: The state-owned oil and gas firm Pertamina said on
\nMonday it would take part in a tender for oil and gas fields in
\nEgypt in April as part of its expansion program.<\/p>\n
Pertamina upstream director Iin Arifin Takhyan said the
\ncompany was interested in bidding for two oil fields in the Nile
\nriver area and in the Western desert of Egypt.<\/p>\n
\"The fields are quite prospective for exploration. We are
\nstill studying their economic scales,\" he told reporters after a
\nseminar on the relationship between the mining industry and
\nregional administrations.<\/p>\n
Pertamina has expanded its oil exploration and exploitation
\nactivities overseas, and has moved into Vietnam, Malaysia, and
\ncountries in the Middle East with the eventual aim of becoming a
\nleading world energy company. --JP<\/p>\n
Kia Motors posts record '01 net profit<\/p>\n
SEOUL : Kia Motors Corp, South Korea's second-largest
\nautomaker in terms of sales, said on Monday it posted a record
\nnet profit of 552.2 billion won (US$423 million) in 2001, up 67
\npercent year on year.<\/p>\n
Kia said its 2001 sales totaled 12.4 trillion won, up 14.3
\npercent year on year.<\/p>\n
Kia, which has not released a new model in more than a year,
\nsaw January sales rise 7.2 percent year on year to 70,476
\nvehicles, while exports rose 1.8 percent over the same period.<\/p>\n
The automaker plans to unveil its second sport utility
\nvehicle, the Sorento compact SUV, later this month in South Korea
\nand then in the key U.S. market mid-year. -- Reuters
\n
\nYokohama Rubber, Continental eye tieup<\/p>\n
TOKYO : Number two Japanese tire maker Yokohama Rubber Co.
\nLtd. said Monday it was in talks with German counterpart
\nContinental AG to start a joint venture in Japan.<\/p>\n
\"We are holding discussions at the moment ... and an
\nannouncement will be made imminently,\" said a Yokohama Rubber
\nspokesman.<\/p>\n
The alliance, Yokohama Continental Tire, would open for
\nbusiness in April, the Nihon Keizai Shimbun newspaper said,
\nciting sources close to the matter.<\/p>\n
Capitalized at 100 million yen (752,000 dollars) the German-
\nJapan venture would be headquartered in Tokyo, with three other
\noffices around the country, one in the United States and another
\nin Germany.--AFP<\/p>\n
DBS Group 2001 profit drops 28.1%<\/p>\n
SINGAPORE: Singapore's DBS Group said Monday its net profit in
\n2001 fell 28.1 percent to S$999.1 million (US$548.9 million) from
\nS$1.388 billion in the previous year.<\/p>\n
Southeast Asia's biggest lender said the drop in profit was
\ndue to a rise in provisions it made as a protection against
\nSingapore's worsening economic state last year.<\/p>\n
\"The decline in net profit was primarily due to the 325
\nmillion (dollar) increase in provision charges that were taken as
\na prudent response to the general slowdown in the economy and
\nlower asset values,\" it said.<\/p>\n
For 2001, the bank's provisions totalled S$378.855 million. --
\nAFP<\/p>\n
NTT DoCoMo's product to enter Germany<\/p>\n
TOKYO: Germany is set to become the first country outside
\nJapan to enjoy NTT DoCoMo Inc.'s mobile phone-based Internet \"i-
\nmode\" service after the Japanese firm granted German telecom E-
\nPlus Mobilfunk GmbH a license Monday.<\/p>\n
\"NTT DoCoMo will transfer and licence technologies to E-Plus
\nfor the launch of a mobile Internet service in Germany\" as early
\nas next month, Japan's top mobile phone operator said in a
\nstatement.<\/p>\n
DoCoMo declined to reveal the value of the contract with E-
\nPlus, which is affiliated with KPN Mobile of the Netherlands.<\/p>\n
Under the deal, which lasts until January 2012, DoCoMo will
\nprovide the German firm with the patents, service know-how, and
\ntechnologies needed to launch the service. -- AFP<\/p>",
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