Bukit Asam expects Rp 200b profit
JAKARTA: Publicly listed state-owned coal mining firm PT Bukit Asam expects its net profit to reach over Rp 200 billion (US$22.185 million) by the end of this year.
"The average selling price is good, while sales volume is also increasing," said company president director Ismet Harmaini on the sidelines of the state-owned companies (BUMN) working meeting on Tuesday.
He mentioned that the price of coal on the domestic market now stood at about $23.4 per ton while the international price was $26.8 per ton.
Ismet also targeted the firm's production to reach 10.2 million tons by the end of this year. However, he said production would be flat next year as the firm had reached the maximum limit of its transportation capacity. -- JP
;AP; ANPAf..r.. Brief-Honda-recall Honda recalling 652,000 vehicles JP/14/Brief1
Honda recalling 652,000 vehicles
WASHINGTON: Honda Motor Co. is recalling nearly 652,000 sedans, minivans and sport utility vehicles because of a defect that allows drivers to remove the key from the ignition when the vehicle isn't in park.
The National Highway Safety Administration said Monday it has records of four injuries, 28 crashes and 169 complaints about the defect, which is caused by excessive wear in the ignition switch. In many cases, drivers assumed their vehicles were in park because they were able to remove the key. In at least one case, a rolling SUV caused a multi-vehicle accident.
Affected vehicles are the 2002 CR-V SUV, the 1997-99 Acura CL and 1999 Acura TL sedans, the 1999 Odyssey minivan and the 1998- 99 Accord sedan and coupe. A total of 651,989 vehicles are involved in the recall.
Honda says consumers should use the parking brake until the company repairs the vehicles.
This is the second time in a year that Honda has recalled the 2002 CR-V. In July, Honda recalled 247,019 CR-Vs because excessive corrosion was preventing the automatic transmission from shifting into park. -- AP
;AFP; ANPAf..r.. Brief-Singapore-Germany Bosch opens office in Singapore JP/14/Brief1
Bosch opens office in Singapore
SINGAPORE: German industrial giant Robert Bosch will set up a regional automotive operation in Singapore to spearhead its push in the region, the company said Tuesday.
Bosch, a major player in automotive technology, wants to increase its market share in this part of the world from seven percent in 2002 to 10 percent in seven years' time, it said in a statement.
The company's automotive aftermarket division has annual revenue of US$500 million from the Asia Pacific and is projecting business turnover will increase 30-40 percent by 2007 as a result of its drive into the region.
"The objective of setting up a diagnostics distribution and support organization is to provide additional focus for the company's expansion," Bosch said.
Bosch plans to invest US$10 million every year in diagnostics and data warehousing as part of its regional expansion plan, which includes increasing its car service network from 2,000 centers last year to 3,000 in 2006. -- AFP
;AFP; ANPAf..r.. Brief-SKorea-economy Hyundai union to launch strike JP/14/Brief3
Hyundai union to launch strike
SEOUL: The labor union of South Korea's leading Hyundai Motor Co. said Tuesday it would stage a partial walkout this week in response to a nationwide strike planned by its umbrella labor group.
Hyundai Motor's 40,000 unionists will down tools for four hours Thursday and eight hours on Nov. 12 at the request of the Korean Confederation of Trade Unions (KCTU), a union leader said.
Hyundai's workers are a powerful force in the militant group which has set a deadline of Nov. 9 for the government to present measures aimed at preventing companies from engaging in what it terms unlawful acts against workers.
"We are following a KCTU order," a union leader in Hyundai Motor's main plant in the southern port of Ulsan told AFP. "If requested by the KCTU, we can prolong our strike."
Hyundai Motor workers staged a 47-day strike that ended on August 6 and cost 1.38 trillion won (US$1.17 billion) in lost production. -- AFP