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Company in Asia

  • Maersk's former head praises restructuring efforts

    SINGAPORE, 2017/09/16 Shipping giant A.P. Moller-Maersk is taking the right steps to improve shareholder price, said the company's former group chief executive. The conglomerate is currently in the midst of separating its transport and logistics businesses from its energy operations — an effort that's been a lot of years in the making, Nils Andersen told CNBC on Friday. Maersk share prices have been steadily sliding ever since July, but investors shouldn't take that as an indicator of world increase, Andersen warned. "At the same time as you see short-term movements in share prices that don't correspond with trade developments, often it's a worry whether new orders for ships will be placed."
  • How Honda lost its mojo - and the mission to get it back

    JAPAN, 2017/09/08 The driver punched the air as his red and white Honda McLaren roared over the finish line. It was Suzuka, Japan, 1988, and Ayrton Senna had just become Formula One world champion for the initial time. The McLaren racing team and its engine maker, Honda Motor, were unstoppable that year, their drivers winning all but one of the 16 grand prix races. Off the track Honda had been tasting success, too. In the 1970s, its engineers had raised the bar for fuel efficiency and cleaner emissions with the CVCC engine. In the 1980s, as its engines were propelling Senna to multiple victories, the Civic and Accord cars were redefining the American family sedan. In 1997, Honda became one of the initial carmakers to unveil an all-electric battery car, the EV Plus, capable of conference California’s zero emission requirement.
  • Why 169 McDonald’s stores in India face closure

    INDIA, 2017/08/22 The Indian unit of McDonald’s has ended the pact with Connaught Plaza Restaurants Pvt., a joint venture that operates the brand’s 169 outlets in northern and eastern parts of the country. The development creates a challenge for McDonald’s in one of the world’s biggest emerging markets. McDonald’s Corp.’s battle with one of its two franchisees in India escalated next the U.S company moved to terminate an agreement involving additional than a third of its restaurants in the world’s second-most populous country.
  • Hangzhou K-12 educator was six times Apple’s market value

    CHINA, 2017/08/11 Hailiang Education Group Inc., a Hangzhou company that provides syllabuses from kindergarten to high schools, was the world’s most precious company for eight minutes overnight, next a fat-finger trading error caused its stock price to jump 20,000-fold. Bids for the company’s stock were received at US$200,000 at 9:35 am New York time on Thursday on the Nasdaq market. A quote recap of the transactions showed 700 shares actually changing hands at that price, before trading was halted for eight minutes. The transaction was later annulled, next which the stock’s price dropped to US$10.26, ending the day 4.5 % higher at US$10.34.
  • Hitoshi Uemura, Vice Chairman of Tokyu Land Corporation

    JAPAN, 2017/08/09 With a diversified portfolio of services, Tokyu Land Corporation–one of the leading real estate companies in Japan–is reshaping the urban face of Tokyo with a long-term vision beyond 2020 and participating in the landmark redevelopment of 425 Park Avenue–a multipurpose building in the Plaza District of Manhattan To what extent are world economic events and local developments such as Abenomics and the 2020 Olympic Games impacting the real estate market?
  • Startups in Vietnam

    VIETNAM, 2017/06/27 2016 was called ‘the year of the startup’ in Vietnam. At no time before has the Vietnamese government shown so much support for startups. Entrepreneurship has been emphasised as a key driver for Vietnam’s economy by the national media and in almost all official speeches made by Vietnam’s new Prime Minister Nguyen Xuan Phuc.People work at the office of food-finder app Lozi in Hanoi, Vietnam, 7 April 2016. There have been 39,580 new startups with a total registered investment of 369.6 trillion dong (US$17 billion) in the initial four months of 2017 alone, which is a 14 % increase in the number of startups and a 54 % increase in registered investment compared to the initial quarter of 2016. According to Vietnam’s Ministry of Planning and Investment , of the 110,000 businesses registered in 2016, additional than 90 % paid taxes, showing signs of stable operation.
  • Recovering Caterpillar set to fly with its Chinese partners

    CHINA, 2017/04/27 Caterpillar Inc will continue to facilitate Chinese indigenous partners on projects along the Belt and Road economies, said one of its top executives. The US’ major machinery manufacturer is planning to organize a group of Chinese large contractors to go on an inspection tour of Africa and the Middle East later this month, where Caterpillar owns mature dealership networks and rich resources, according to Chen Qihua, its vice-president. Chen said the initiative will benefit the company’s efforts to promote interactions between Chinese contractors seeking overseas opportunities and service providers along the ancient trading routes.
  • Next Pertamina boss could be anybody: Minister Rini

    INDONESIA, 2017/03/06 The next person to chief oil and gas giant Pertamina could be an internal figure or someone from outside the company, National-Owned Enterprises Minister Rini Soemarno has said. Rini said the ministry had proposed candidates to the President, but no decision had been made. “Please be patient. We will definitely announce [the names],” Rini told a press briefing in Jakarta on Friday, reported.
  • Indian film star Sushmita Sen played a part in the launch event for Huawei’s P9 smartphone in New Delhi last month

    CHINA, 2016/09/29 The world’s third-largest smartphone maker by shipments—behind Samsung Electronics Co. and Apple Inc.—said Friday that it will work with the Indian arm of contract manufacturer Flex International Ltd. to assemble smartphones for the local market starting next month. Huawei Technologies Co. is making a renewed push into India’s fast-growing smartphone market, manufacturing locally and broadening its distribution network. By the end of next year, the plant in Chennai will have the capacity to make 3 million phones annually, Huawei said. The Chinese technology giant is also expanding its distribution network in India by teaming up with more than 50,000 retail outlets by the end of this year.
  • Uber Rival Grab Partners With Driverless Car Firm in Singapore

    SINGAPORE, 2016/09/24 Users of ride-hailing firm Grab will be able to book driverless cars from Friday (23/09) as it partners with a start-up testing the technology in Singapore, just days next rival Uber debuted its self-driving vehicles in the United States. The move comes as technology companies and automakers race to build autonomous vehicles and develop new business plans for what is expected to be a long-term makeover of personal transportation. Southeast Asia's Grab said its app will allow a selected group of commuters to book and ride start-up nuTonomy's driverless vehicles within a western Singapore district, where the vehicles are being tested, and adjacent neighborhoods.