RI wheat policy may gurt Aussie<\/p>\n
CANBERRA: Australia's AWB Ltd. is worried its wheat export
\ntrade to Indonesia could suffer collateral damage as a result of
\nothers dumping flour there, Matthew Foran, AWB's government
\nrelations manager said Friday.<\/p>\n
Wheat sales haven't been affected yet, he said, but when
\ncurrent forward contacts expire, sales to major Indonesian miller
\nPT Bogasari Flour Mills could fall, one of the world's biggest
\nwheat buyers and a major AWB customer, he said.<\/p>\n
AWB, which doesn't export flour to Indonesia, is \"caught in
\nthe middle\" of a dispute in which Indonesia's antidumping
\nauthority, or KADI, has found dumping of flour occurring \"from a
\nvariety of sources, not just from Australia, and that dumping is
\ncausing material injury to the domestic industry,\" he said.<\/p>\n
KADI has recommended to its minister that a variety of
\nantidumping duties of between 5 percent and 30 percent be applied
\nto provide some relief to the domestic industry, he said.<\/p>\n
The Indonesian government hasn't yet decided whether it will
\nimpose the antidumping duties, he said.<\/p>\n
Foran said Bogasari purchased about 1.8 million metric tons of
\nwheat a year from Australia, or about 10 percent of its expected
\ntotal exports this marketing year ending Sept. 30.<\/p>\n
Bogasari mostly buys Australian wheat. --Dow Jones<\/p>\n
;DJ;
\nANPAf..r..
\nBusiness-corporatebrief
\nRestaurant chain leaves 1,700 jobless
\nJP\/16\/brief<\/p>\n
Restaurant chain leaves 1,700 jobless<\/p>\n
HONG KONG: Hong Kong's oldest restaurant chain has closed,
\nleaving nearly 1,700 workers jobless as the territory's economic
\nwoes show no signs of abating, the labor department said.<\/p>\n
The Treasure Restaurant Group, founded in 1977, collapsed on
\nWednesday in one of the worst mass lay-offs in Hong Kong's labor
\nhistory.<\/p>\n
The Labor Department spokesman said Friday that some 1,670
\nemployees of the Treasure Restaurant Group had put in claims for
\nwages in lieu of notice and severance payment as well as
\noutstanding wages.<\/p>\n
It was believe to be the biggest mass lay-off in recent years.
\nHong Kong's largest telephone company Pacific Century CyberWorks
\nsacked 858 workers in March.<\/p>\n
The jobless rate has risen to a record 7.1 percent in the
\nthree months to April.--AFP<\/p>\n
;DJ;
\nANPAf..r..
\nBusiness-corporatebrief
\nSony, NEC to tie up on PDP<\/p>\n
JP\/16\/brief<\/p>\n
Sony, NEC to tie up on PDP<\/p>\n
TOKYO: Japanese consumer electronics giant Sony Corp. said
\nFriday it had agreed to tie up with hi-tech firm NEC Corp. on a
\nplasma display panels (PDPs) deal after rejecting an earlier
\nagreement with two rivals.<\/p>\n
\"We have come to a basic agreement but on what conditions and
\nin what way we can cooperate is still being discussed. We haven't
\nsigned a formal contract yet,\" said Sony spokeswoman Yuriko
\nNakatani.<\/p>\n
Sony at the end of May spurned a deal to acquire PDPs for its
\nPDP television sets which would have required a five billion yen
\n(US$40 million), 15 percent stake in a joint venture of Fujitsu
\nLtd. and Hitachi Ltd. which make the display panels.<\/p>\n
Instead it is seeking a non-equity deal with NEC, Nakatani
\nsaid.<\/p>\n
Sony is looking eagerly at the flat-panel large television
\nmarket, in which 120,000 units were sold in Japan in 2001, with
\ngrowth expected to rocket to 210,000 units in 2002.--AFP<\/p>\n
;DJ;
\nANPAf..r..
\nBusiness-corporatebrief
\nHonda plans second plant in China
\nJP\/16\/brief<\/p>\n
Honda plans second plant in China<\/p>\n
TOKYO: Japanese automaker Honda Motor Co. plans to build a
\nsecond passenger-car manufacturing plant in China as early as
\n2004, a local newspaper reported Friday.<\/p>\n
Honda is in talks with the Chinese government to construct the
\nplant in the southeastern Chinese city of Guangzhou, the Nihon
\nKeizai financial daily said.<\/p>\n
Masaya Nagai, a spokesman for Tokyo-based Honda, said the
\ncompany has been discussing a \"variety of ideas\" with Chinese
\nofficials. \"But nothing has been decided in concrete terms,\"
\nNagai said.<\/p>\n
Honda is Japan's second-largest automaker. Its existing
\nfactory in China is also in Guangzhou.<\/p>\n
Under the plans, Honda and Guangzhou Auto Group Corp., Honda's
\ncurrent joint venture partner, will set up a new company to
\noperate the plant with annual production capacity of 100,000
\ncars, the daily said in a dispatch from Guangzhou. It did not
\nquote any sources. --AP<\/p>",
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