Corporate Briefs
Corporate Briefs
Travel agency PT Anta Express Tour & Travel Service plans to
float its shares on the Jakarta Stock Exchange mid-December with
PT Kresna Graha Sekurindo as underwriter, the company said on
Thursday. -- JP
The Indonesian Bank Restructuring Agency has raised Rp 49.5
billion (US$4.6 million) from the sale of steel container
manufacturer PT Poli Contindo Nusa, formerly owned by the Salim
Group, to PT Kerismas Witikco Makmur, the agency said on
Thursday. -- JP
Anglo-American energy firm BP Indonesia has officially launched a
series of lectures on oil and gas at Irian Jaya's universities to
raise the local people's knowledge of the industry. The program
will be held monthly for a year. -- JP
About 20 multinational companies operating in Banten province
have launched an organization called the Banten International
Business Association to help the local government in developing
business in the province and attracting investors to the area, a
public relations firm said on Thursday -- JP
Indonesian nickel and gold miner PT Aneka Tambang, or Antam, said
Thursday its nine-month net profit rose 2.7 percent to Rp 311
billion (US$29.1 million) due to higher third-quarter sales of
high-grade nickel ore. Overall sales increased to Rp 1.22
trillion from Rp 1.09 trillion a year earlier, helped by the weak
rupiah at a time when average selling prices for nickel and gold
were lower. -- Dow Jones
Toyota Motor Corp, Japan's largest automaker, reported a 35
percent rise in first-half operating profit on Thursday, lifted
by a weaker yen, solid sales in North America and aggressive
cost-cutting. Consolidated operating profit climbed to 506.58
billion yen (US$4.19 billion) for the six months through
September, compared with 376.10 billion yen for the same period a
year earlier. -- Reuters
Singapore Airlines' executives have agreed to take a 5-per-cent
wage cut this month in what will be one of the worst-ever years
for their industry, it was reported Thursday. Breaking a
stalemate in talks with management, the Air Transport Executives
Staff Union, representing 800 administrative officers, announced
in an e-mail message to its members that it has agreed to SIA's
request for a wage reduction. -- DPA
Singapore Airlines Ltd. on Thursday said it will defer delivery
of 10 Airbus aircraft due for delivery from January 2003.
Delivery of the first A340-500 has been put back nine months to
October, the carrier said. -- AFP
Japanese automaker Mitsubishi Motors Corp. said Thursday it will
recall over 12,000 cars due to brake problems at a cost of 1.5
billion yen (US$12.5 million). -- AFP
Japan's Sharp Corp. and major Taiwanese chipmaker Winbond
Electronics Corp. have agreed to jointly develop memory chips for
third-generation mobile phones, a news report said Thursday. The
mass production technology of Winbond and the miniature
processing techniques of Sharp would allow the two firms to cut
development costs and get the chips to market faster, the Nihon
Keizai Shimbun said. -- AFP
South Korea's leading automaker, Hyundai Motor Co. will jointly
produce micro multi-functional vehicles with its Malaysian
partner Industri Otomotif Komersial (Inokom), reports said
Thursday. "We are eying to manufacture 20,000 units annually at
our Kulim plant in (northern) Kedah state," the Star newspaper
quoted Inokom chairman Amer Hamzah Ahmed as saying. -- AFP