Motorola launches four products

Motorola launches four products

JAKARTA: Motorola launched on Monday a series of new products
in response to the skyrocketing sales of cellular phones in
Indonesia.

The four new products are the C330, E360, V60i and T720
models, and were expected to capture much of the market share
from other competitors in the country, an executive said here,
adding that the company had funded a promotion campaign worth
US$1 million this year in an effort to win the Indonesian market.

"We are optimistic that Motorola will be in second position in
our target market," Motorola Asia-Pacific vice president Alan Goh
said.

The Indonesian Cellular Phone Association recently reported
that cellular subscribers in Indonesia had jumped to 8.1 million
in the first half of the year from 6.5 million by the end of last
year. -- JP

Mandala on-time performance rises

JAKARTA: PT Mandala Airlines's on-time performance rose to 85
percent over the past three months following an improvement in
its check-in procedure.

The punctuality rose after the airline obliged passengers to
confirm check-in one hour before flights, the company said in a
statement.

In August this year, the airline received the "best customer
appreciation award" from state-owned airport operator PT Angkasa
Pura for its punctuality.

Mandala Airlines is one of the country's biggest domestic
airlines and has been operating since 1969.

The company currently serves 13 cities: Jakarta, Medan,
Padang, Makassar, Semarang, Surabaya, Denpasar, Manado, Batam,
Balikpapan, Banjarmasin, Pekanbaru and Jambi. -- JP

RI's Salim eyes stake in China COSCO

SHANGHAI, CHINA: Indonesia's Salim Group has signed an initial
agreement to buy a 45 percent stake in COSCO Property Group for
US$500 million, the weekly 21st Century Business Herald reports,
without citing any named source.

COSCO Property is a 45 percent-owned affiliate of China Ocean
Shipping (Group) Co., a large conglomerate with international
shipping as its core business.

The report said Salim Group will buy at least a 38.24 percent
stake from COSCO Property's second-biggest shareholder, Shanghai
COSCO. The report didn't say where Salim will buy the remaining
6.76 percent stake.

COSCO Property is the biggest shareholder of A-share listed
Cosco Development Co., owning a 56.16 percent stake.

An official at COSCO Development said the company has yet to
receive any notice regarding a change in the shareholding
structure of its majority shareholder. -- Dow Jones

Bank Kesawan to offer 78.80 million shares

JAKARTA: Indonesia's PT Bank Kesawan will offer 78.80 million
shares in an initial public offering scheduled for late November,
the bank said Monday.

As a sweetener, the bank will attach three free warrants on
every two shares which will entitle the warrant holder to buy one
share for each warrant in the future at a discount.

The bank hasn't decided the price of the shares.

Bank Kesawan added it will use 60 percent of the proceeds to
boost new loans, and the remaining 40% to open new branches and
finance human resource development.

The bank has named PT Victoria Sekuritas and PT Kapita
Sekurindo as lead underwriters for its offering. -- Dow Jones

Chinese oil firm invites foreigners for exploration

HONG KONG: China National Offshore Oil Co. (CNOOC) is inviting
foreign companies to tender for exploration and development work
in the South China Sea, its Hong Kong-listed firm CNOOC Ltd. said
Monday.

China's major offshore oil and gas producer said the tender is
for 12 virgin deepwater oil and gas blocks in the South China
Sea.

"Exploration in this area will help tap the unexploited
potential in offshore China. We welcome experienced companies
with strong track record in deepwater exploration to partner with
us in the exploration work," CNOOC executive vice-president Ru Ke
said.

No meaningful exploration work has been done in these
deepwater blocks so far, the company said in a statement.

CNOOC will own all the working interests caused by the
exploration and development activities, according to the
statement. -- AFP

Honda's motorbike plant in Vietnam to remain shut

HANOI: Japanese auto giant Honda Motor Co. Ltd. said Monday
operations at its motorcycle factory in Vietnam will remain
suspended for the foreseeable future as a result of government
restrictions on auto part imports.

"We are taking matters on a day-to-day basis and negotiations
are ongoing with the government to get them to try and understand
our position. Other motorcycle manufacturers are also similarly
affected," said Honda's spokesman.

Last Wednesday, Honda Vietnam, which dominates the local
market with its top-selling Wave Alpha model, said it had
temporarily shut down its motorbike manufacturing operations in
Vinh Phuc province, west of Hanoi.

The decision was taken after the government's decision earlier
this month to slash the number of sets of parts that motorbike
assemblers could import during 2002 from 2.5 million to 1.5
million. -- AFP

HK labour groups warn of eroding labour rights

HONG KONG: International labour organizations on Monday warned
of eroding labour practices in Hong Kong, citing the ongoing
dispute between Cathay Pacific Airways Ltd. and its pilots.

The labour groups said the Cathay pilots dispute over pay and
roistering exemplified the worsening problem of "eroding labour
practices in Hong Kong, an environment in which global businesses
are free to exploit workers due to lax labour laws and little
protection from government agencies."

The statement was from labour groups including the
International Federation of Air Line Pilots Associations and
groups from Asia, Australia, Canada, Finland, New Zealand, Spain,
Switzerland, Britain and the United States. -- AFP