IN BRIEF Asia Watch

29 January 2007 00:00  [Source: ICB]

PROFITS RISE AT NPC

China National Petroleum Corp, the parent company of Petro­china, has reported a 4.9% rise in 2006 pre-tax profits to yuan (CNY) 185.6bn ($238.7m, ¤183.9m) from a year earlier. Sales exceeded CNY800bn, while crude oil output expanded 73% to 106.6m tonnes in the same period.

DATE SET FOR PTT'S LISTINGS FATE

The fate of Thailand's PTT as a listed entity will be revealed in six months after legal investigations led by the country's Supreme Administrative Court are concluded, according to a report in The Bangkok Post. The case has been sparked by pressure from social activists, who allege that the 2001 listing of PTT violated the law and constitution. The listing took place during the administration of ousted prime minister Thaksin Shinawatra. Those opposing the listing claim that key government officials illegally benefited when the company was taken private.

FIBRE OUTPUT FALLS 

Japan's demand for man-made fibres grew in 2006, but high feedstock costs and technical glitches weighed on production, according to the Japan Chemical Fibres Association. Poor demand for fibres from the clothing industry also dampened output. Production slipped by 3% in 2006 from 1.2m tonnes from the previous year. Output of cellulosic fibres dipped 5.9% to 149,279 tonnes while that of nylon fibres fell 0.3% to 117,527 tonnes. Production of acrylic staple also fell 7.1% to 242,913 tonnes in 2006, while polyester filament output fell 4.2% to 270,015 tonnes.

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