In Wednesday's Asia Papers

14 May 2008 02:00 [Source: ICIS news]

Front page

Extortionist targets school in leak

An extortionist is demanding a Tokyo suburban education board pay 4 million yen for the return of a lost USB memory stick with data on nearly three dozen schoolchildren.

Business & Industry

Children's fund ordered to drop plan

The Finance Ministry and the Ministry of Economy, Trade and Industry on Tuesday ordered the Children's Investment Master Fund (TCI) of Britain to drop its plan to raise its stake in Electric Power Development Co. (J-Power) from 9.9 percent to 20 percent.

CHINA DAILY, China

Front page

Death toll exceeds 12,000 in Sichuan, 9,400 trapped

Rescuers were Tuesday night racing against time to find survivors a day after the strongest quake to hit China in 32 years jolted Sichuan province, demolishing buildings and burying tens of thousands beneath the rubble.

People want lowdown on pay

The research was carried out following the introduction on May 1 of a government information disclosure regulation, which demands local governments be more transparent on issues that affect the public interest.

Business & Industry

No new updates.

TAIPEI TIMES, Taiwan

Front page

China earthquake toll passes 12,000

Bodies covered with sheets lined streets yesterday as rescue workers dug through schools and homes turned into rubble by China’s worst earthquake in three decades in a desperate attempt to rescue victims trapped under concrete slabs.

Business & Industry

FAT staff call for government support

Employees of the financially troubled Far Eastern Air Transport (FAT) urged the government yesterday to bail out the airline after FAT’s management team announced the suspension of its operations on Monday.

HTC counting on new smartphone to lift sales

High Tech Computer Corp (HTC), the world's top maker of Microsoft Windows-based smartphones, said yesterday that the third quarter would be a better period for the company, aided by sales of its much-anticipated new Touch series.

KOREA HERALD, South Korea

Front page

U.S. backs Seoul's beef import stance

A top U.S. trade official said the U.S. government recognizes Korea's right to suspend beef imports if mad cow disease occurs in the United States.

Seoul's N.K. food aid dilemma deepens

A team of officials from the Foreign and Unification ministries went to Washington on Monday to discuss the United States' food aid of 500,000 tons of rice to North Korea

Business & Industry

Privatization plans for energy firms take shape

As many as 70 energy firms and other corporations in the group of 305 state-owned enterprises will be subject to the government's privatization plan, which will be disclosed in June, the Finance Ministry said yesterday.

Public firm CEOs face drastic salary cut

The government has set the average salary for chief executive officers of state-run corporations at 108 million won ($103,000), which is on the same level with that of vice ministers, the Finance Ministry said yesterday

NEW STRAITS TIMES, Malaysia

Front page

China Quake: Malaysian firms on forced break

Sichuan Malaya Glass Company Ltd (SMG) and Unisem Chengdu reported no damage to their production facilities but have suspended operations.

Business & Industry

AMMB nets RM669m

AMMB Holdings Bhd, Malaysia's fifth biggest banking group, swung to a net profit in fiscal 2008 from a loss previously as it set aside less money to cover potential bad loans.

TH Plantations to expand oil palm estates

TH Plantations Bhd, the plantation arm of Lembaga Tabung Haji, aims to boost the size of its oil palm estates by 50 per cent this year to boost income.

BUSINESS TIMES, Singapore

Front page

CapitaLand, US fund jostle for The Atrium

The race to snap up The Atrium @ Orchard is said to have narrowed to two parties: a US fund, and a unit of CapitaLand group, possibly CapitaMall Trust (CMT), which owns Plaza Singapura next door. The price is understood to be in the region of $2,200-$2,300 per square foot of net lettable area (NLA). Based on the property's total NLA of around 370,000 sq ft, the asset would be priced at over $800 million.

Fed warns market conditions are 'far from normal'

US Federal Reserve chairman Ben Bernanke said yesterday that emergency Fed liquidity measures have helped relieve strain in financial markets, but the recovery process remains incomplete.

Business & Industry

SIA Q4 net falls 21% to $528m

SINGAPORE Airlines unveiled a 21 per cent drop in fourth-quarter profit to $528 million as its bottom line was weighed down by higher fuel costs and the absence of the previous year's one-off tax reduction.

Aussie Treasurer forecasts record surplus budget

Australian Treasurer Wayne Swan forecast a record budget surplus, partly funded by cutting welfare payments to high-income earners, to help the central bank fight the fastest inflation since 1991.

BANGKOK POST, Thailand

Front page

Rush trip

Prime Minister Samak Sundaravej has scheduled his on-again, off-again trip to Burma for Wednesday, when he will personally hand over an appeal to allow more aid from the secretary general of the United Nations to the Burmese military junta.

Business & Industry

Special allowance approved

The cabinet yesterday approved a special monthly allowance of an average 500-600 baht, or a 6% increase, to help low-ranking government employees make ends meet, effective retroactively from May 1 this year. Deputy Prime Minister and Finance Minister Surapong Suebwonglee said the special cost-of-living allowance will benefit about 300,000 low-ranking officials below C5 level _ covering employees in the civil service, police, soldiers, staff in the education sector and other permanent employees.

Ratchaburi intends to sell ethanol stake

Ratchaburi Electricity Generating Holding Plc (RATCH), the country's largest private power producer, plans to divest from Siam Ethanol Co (SEC), saying it has no expertise in the ethanol business. ''We are open to any parties who are interested in acquiring all of our shares in SEC, we can talk details,'' managing director Narong Sitasuwan said yesterday.

JAKARTA POST, Indonesia

Front page

No new updates

Business & Industry

No new updates.

By: Staff Reporter
+44 20 8652 3214

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