ASIA, JAS set up joint venture

ASIA, JAS set up joint venture

SINGAPORE: Singapore Airlines' (SIA) engineering arm will set
up a joint venture with an Indonesian partner to provide aircraft
line maintenance services at airports in Indonesia, the carrier
said Monday.

Mainboard-listed SIA Engineering Co. will take a 49 percent
stake in PT Jas Aero-Engineering Services while its partner PT
Jasa Angkasa Semesta (PT JAS) will hold the remaining 51 percent,
SIA said in a statement.

"We are very pleased to partner PT JAS, which has an excellent
reputation in airport ground handling services and an extensive
presence in Indonesia," said SIA Engineering chief executive
William Tan.

"Coupled with our experience and extensive coverage in
aircraft certifications, we look forward to providing customers
with a high level of technical services and dispatch reliability
at major Indonesian airports."

The joint-venture has a paid-up capital of four million U.S.
dollars and is subject to approval from the Indonesian
government.

It will operate at 10 major airports in Indonesia including
Jakarta, Denpasar, Surabaya and Medan, providing aircraft line
maintenance services to international and domestic carriers. --
AFP

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ANPAf..r..
CorporateBrief-Singtel
SingTel's subscribers exceed 37m
JP/14/Singtel

SingTel's subscribers exceed 37m

SINGAPORE: Singapore Telecommunications' (SingTel) mobile
subscribers in the Asia-Pacific region grew more than 50 percent
to total 37.4 million in June, the operator said Monday.

The 51 percent increment from a year ago came from strong
growth in the operator's regional associates as well as its
wholly-owned Australian unit Optus, it said in a statement.

SingTel's regional associates -- Advanced Info Service of
Thailand, India's Bharti, Globe of the Philippines and
Indonesia's Telkomsel -- posted a 62.5 percent jump in
subscribers to 31 million.

Moile subscribers at Australian unit Optus rose 15.6 percent
on the year to 4.89 million.

At home, SingTel's mobile subscribers grew a mere two percent
to 1.53 million users.

SingTel has actively acquired stakes in regional telecoms
firms in the past few years in order to be less reliant on the
saturated local market which offers limited growth potential amid
increased competition from newcomers. -- AFP

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ANPAf..r..
CorporateBrief-bank
Deutsche Bank wins approval
JP/14/bank

Deutsche Bank wins approval

SHANGHAI: Germany's largest bank Deutsche Bank has won
regulatory approval to trade in China's US$500-billion securities
markets, it was announced Monday.

Deutsche is the sixth foreign institution to be granted access
by the China Securities Regulatory Commission, the regulatory
body reported on its website.

Switzerland's UBS, Japan's Nomura Holdings and the United
States's Morgan Stanley, Citigroup and Goldman Sachs were the
first five groups granted access under the Qualified Foreign
Institutional Investors (QFII) scheme earlier this year.

Rules governing QFIIs were published late last year and in
March this year China appointed a number of custodian banks
authorized with opening accounts for them.

Foreign institutions can invest in all of the more than 1,200
A-share listed companies in China and are no longer restricted to
the paltry B-share market which was been open to them for more
than a decade.

UBS and Citibank have reportedly already executed trades. --
AFP