IBRA launches asset sale

JAKARTA: After raising some Rp 155 billion from its latest sale of property assets, the Indonesian Bank Restructuring Agency (IBRA) has commenced the latest sell-off program with 64 new property assets being on the block.

IBRA said in a press statement on Monday that the new assets would be added to the 1,206 assets that had failed to draw bids during the last sell-off program, which was called PPAP 4 batch 1.

Potential bidders in the latest sell-off must register with IBRA before Oct. 20, the statement said.

The potential bidders will have also to bid above the floor price set by the agency. For further information, the bidders can visit the agency's website at www.bppn.go.id. -- JP

;AFP; ANPAf..r.. Money-SKorea-consumer Consumer confidence down in Korea JP/16/Money

Consumer confidence down in Korea

SEOUL: Consumer confidence in South Korea hit a five-year low in September as the central Bank of Korea said on Tuesday this year's economic growth will fall below three percent because of weak consumption and investment.

The consumer evaluation index, which measures current consumer sentiment, fell to 59.9 in September from 63.9 in August, the National Statistical Office (NSO) said.

The fall reflected a prolonged slump in consumer confidence amid uncertainty over the long-awaited economic recovery.

It marks the lowest level since November 1998, when the data was first collated, the NSO said. The index has now stayed below the benchmark 100 level for 13 consecutive months.

The consumer expectations index, which measures consumer sentiment six months ahead, fell to 90.4 in September from 92.0 in August, driven by a modest rise in the number of consumers who believe the economy will worsen going forward. --AFP

;AFP; ANPAf..r.. Money-Thailand-auto-sales Thai vehicle sales jump 31.5% JP/16/Money

Thai vehicle sales jump 31.5%

BANGKOK: Thailand's domestic vehicle sales rose 31.5 percent from a year earlier in the first nine months of 2003, bolstered by a strong economy and low interest rates, the industry said on Tuesday.

Vehicle sales in the kingdom from January to September soared to 379,252 units, while September vehicle sales clocked growth of 22.5 percent or 44,830 units year-on-year, industry statistics compiler Toyota Motor (Thailand) said.

"The auto industry is approaching the final quarter with a bright outlook due to the positive economic environment, including low interest rates which are resulting in greater liquidity," the company said in a statement.

"The industry is also benefiting through hire purchases due to the low rates," it added.

Japan's giant auto-makers Toyota, Isuzu and Honda accounted for 73.5 percent of the total Thai domestic vehicle market for the first nine months of the year. -- AFP

;AFP; ANPAf..r.. Money-China-property Shanghai housing prices up JP/16/Money

Shanghai housing prices up

SHANGHAI: Surging house prices in China's economic hub Shanghai are unlikely to cool anytime soon and may post a 30- percent growth rate this year, state press reported on Tuesday.

The Shanghai Housing Index, the benchmark for the city's new housing prices, increased 2.5 percent last month to hit 1,038 points, various state media reported.

For the first nine months of the year prices surged a total of 23 percent, which compares with annual 15.5 percent growth in 2002, the Shanghai Daily said.

Based on the data, the index office raised its forecast for the annual growth rate to 30 percent from 25 percent in August, indicating average prices would rise to about 5,900 yuan a square metre (US$719) by year-end.

By the end of 2002, the average new housing price was 4,553 yuan ($549) a square metre, according to the National Bureau of Statistics. --AFP

;AFP; ANPAf..r.. Money-Japan-Mexico-trade Japan, Mexico FTA talks progressing JP/16/Money

Japan, Mexico FTA talks progressing

TOKYO: Japan and Mexico are still divided on the terms of a bilateral free trade accord but are making progress in the eleventh-hour talks ahead of a visit here this week by Mexican President Vicente Fox, the Japanese foreign minister said on Tuesday.

"The talks are moving ahead albeit little by little," Foreign Minister Yoriko Kawaguchi told a regular news conference on the eve of Fox's arrival.

The sensitive issue of agricultural trade has bogged the talks down, with Mexico pushing to remove high Japanese tariffs on pork while Japan has rejected the idea to protect domestic farmers.

Trade, farm and other ministers of the two nations met in Tokyo on Monday in a bid to secure a last-minute breakthrough for concluding a free trade agreement (FTA) while Fox is here but remained divided over a range of issues. --AFP