Italy takes part in Bandungtex
Italy takes part in Bandungtex
JAKARTA: Italian textile machinery makers are taking part in
the international textile, garment machinery and accessories exp
Bandungtex 2002, in Bandung, West Java, which was opened
Wednesday, a release said.
Agusto Di Gacinto, trade commissioner of the Italian Trade
Commission said in the release that at least 50 Italian companies
were taking part in the event which would end on June 16.
The presence of Italian companies in the expo will give
opportunities for interested Indonesian companies to find the
right technology for their industry, he said.
Italian exports of textile machinery to Indonesia grew 58
percent to US$17 million in 2001 from $11 million in the previous
year. Most buyers came from the spinning sector (64 percent)
followed by the weaving sector (16 percent).
Textile is one of Indonesia's major non-oil and gas export
products, while Indonesia is one of the main textile producers in
Asia. The industry employs around 1.2 million people.
Bandungtex 2002 is the fifth exhibition. The previous
exhibition was held in 2000, attended by some 23,000 operators
and 567 exhibitors from 26 countries. -- JP
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ANPAf..r..
CorporateBrief-Indosiar-profit
Indosiar posts Rp 337b profit
JP/14/Brief
Indosiar posts Rp 337b profit
JAKARTA: Private television company PT Indosiar Visual Mandiri
posted Rp 337 billion (US$386.4 million) in net profit in 2001, a
212 percent increase from the previous year's profit.
"The increase was due to marketing, competitive advertising
fee and increasing commercial broadcasting time, especially non
prime time," the company said in a release on Wednesday.
Based on a survey by AC Nielsen Indonesia, the company said it
took 27 percent of advertising expenditures in the television
sector that year.
Earnings rose 43 percent to Rp 854 billion from Rp 599
billion, while operating profit rose 75 percent to Rp 321 billion
from Rp 183 billion.
Costs for program and broadcasting rose 22 percent to Rp 390
billion, while administration costs and general costs rose 48
percent to Rp 142 billion. --JP
;JP;
ANPAf..r..
CorporateBrief-Formosa-Taiwan
Formosa to expand in Taiwan
JP/14/Brief
Formosa to expand in Taiwan
TAIPEI: Taiwan's Formosa Plastics Group plans to invest an
additional NT$72.2 billion (US$2.12 billion) to expand a
petrochemical complex in the island's south, it was reported
Wednesday.
The third-stage construction of the naphtha cracker complex in
Mailao followed an investment of NT$420 billion for the first two
phases, the Commercial Times said.
The move was a demonstration the group is keeping its roots in
Taiwan despite plans to invest $5 billion on a petrochemical
complex in Ningbo in China's Jiangsu province, the paper said.
Formosa Plastics has injected some NT$350 million for
operations of more than 20 plants on the mainland. -- AFP
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ANPAf..r..
CorporateBrief-Unocal
Judge orders Unocal to trial
JP/14/Brief
Judge orders Unocal to trial
LOS ANGELES: A Superior Court judge has ordered the Unocal
Corp. to stand trial for alleged human rights abuses related to a
pipeline project in Myanmar.
In a ruling made public Tuesday, Superior Court Judge Victoria
Chaney denied a Unocal motion for summary judgment of lawsuits
brought on behalf of citizens of and refugees from Myanmar, which
was formerly known as Burma.
In a separate ruling made Friday and announced Tuesday, Chaney
also denied the plaintiffs' motion for summary judgment, saying
they could not show Unocal was solely responsible for the alleged
human rights violations.
A jury trial was set for Sept. 26 in Los Angeles, where Unocal
is based.
"For the first time in any place, we are holding an American
corporation liable for human rights abuses committed abroad,"
said Dan Stormer, who is representing the plaintiffs. -- AP