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Company in Asia

  • APG in $650m Chinese logistics JV

    CHINA, 2014/05/29 APG is to spend $650m (€477m) on a 20% stake in Chinese warehousing developer and operator e-Shang as part of a joint venture agreement. The Dutch pension fund investment manager’s stake gives it exposure to China’s logistics sector. The partnership will invest in and develop logistics assets across China. Sachin Doshi, APG chief of non-listed real estate for Asia-Pacific, said the investment manager had watched the sector “closely” in recent years as it experienced the increase of third-party logistics, e-commerce and the evolution of domestic consumption patterns.

  • China National Grid Corp

    CHINA, 2014/05/10 China National Grid Corp will be the major financier of the Regional Development Project for Energy Transmission between the Centre and South (Cesul) in Mozambique, Mozambique’s energy minister, Salvador Namburete told Macauhub in Maputo. The Cesul project, which involves investment of around US$2 billion, kn own locally as the “backbone”, so far had no known financier, although several companies, such as South Africa’s Eskom, France’s EDF and Brazil’s Electrobras, had shown interest in being involved in its development.

  • Samsung Innovation Museum (SIM) at its headquarters in Suwon,

    SOUTH KOREA, 2014/05/05 Samsung Electronics said Monday that it will open the Samsung Innovation Museum (SIM) at its headquarters in Suwon, Gyeonggi Province, on Thursday. The company said that the opening of the museum, the initial of its kind in the industry, symbolizes the company’s tireless commitment to innovation. “The history of the electronics industry is like a map that shows human challenges and a zeal for finding new values,” said Kwon Oh-hyun, vice chairman at Samsung Electronics in a statement, Monday.

  • HiteJinro to open beer plant in Vietnam

    SOUTH KOREA, 2014/04/30 HiteJinro is looking to build a beer plant in either Vietnam or the Dominican Republic to seek additional resilient increase, a company executive said in a recent interview. “If we decide to build a plant outside Korea, it will be in Vietnam. The Dominican Republic could be an extra option depending on request,” Lim Kyu-hun, director of HiteJinro’s overseas business chief office, told The Korea Times last week. The liquor market in Vietnam has grown 10 % annually in recent years. And high productivity and low labor costs make the country additional attractive than advanced nations, Lim said.

  • Boeing forecasts $1.9 trillion 20-year market for new airplanes in Asia Pacific

    UNITED STATES, 2014/02/11 Boeing says strong economic and passenger increase will be major drivers of new airplane request in the Asia Pacific region. Boeing estimates the region's airlines will need an additional 12,820 airplanes valued at $1.9 trillion, representing 36 % of the world's new airplane deliveries over the next 20 years. "Asia Pacific economies and passenger traffic continue to exhibit strong increase," said Randy Tinseth, vice president, Marketing, Boeing Commercial Airplanes during a media briefing before the opening of the Singapore Airshow. "Over the next 20 years, nearly half of the world's air traffic increase will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple, from 5,090 airplanes in 2012 to 14,750 airplanes in 2032, to support the increased request."

  • Singapore Airlines has chosen Airbus’ A320 to launch its new Indian joint venture with Tata Sons,

    INDIA, 2014/01/10 Singapore Airlines has chosen Airbus’ A320 to launch its new Indian joint venture with Tata Sons, scoring a victory over rival Boeing as the airline market Asia’s third biggest economy shows signs of a revival. Sources familiar with the decision said a project team picked the European plane in preference to Boeing’s 737 — the aircraft ordered by low-cost operator SpiceJet to expand its fleet in a transaction reported by Reuters on Tuesday. The demise of Kingfisher Airlines in 2012 marked an end to the bitter competition that led to low ticket prices for Indian consumers and high levels of losses for its airlines.

  • David Wang, president of Huawei Wireless Network,

    CHINA, 2014/01/01 Huawei plans that revenues from its 4G sales will double next year to at least US$4 billion, David Wang, president of Huawei Wireless Network, told reporters in Shanghai. This year the company expects to have sold around US$2 billion worth of LTE based network equipment. Huawei had signed 241 LTE deployment contracts in total up to the end of last month and says that it has deployments in nearly half of the 244 commercially launched LTE networks worldwide.

  • Official: Kingfisher Airlines failed to pay taxes amounting to Rs 3,500,000,000

    INDIA, 2013/12/16 The Gain Tax department has attached all assets of cash-strapped Kingfisher Airlines for failing to remit taxes amounting to Rs 3,500,000,000, a senior official said on Sunday. "We have attached all assets of Kingfisher Airlines and are in the process of recovering its dues by sale and attachment of properties of the defaulter company," IT official Lokesha said in a statement here.

  • Tiffany & Co. to Boost Marketing Spend in China Next Year

    CHINA, 2013/12/12 Upscale jeweler Tiffany & Co. aims to make a bigger impact on consumers in China by boosting investment in the country next year, with a larger marketing spend than in any other market, said Chairman and Chief Executive Michael Kowalski. The distinctive shade of Tiffany blue will appear on store facades and in-store signage will be bigger, Kowalski said, while declining to disclose how much the company planned to invest in the changes. "We've learned that we need to be additional overt about how we present the brand," Kowalski said in comments to The Wall Street Journal.

  • HTC's shipments in Q4 may fall by 16% from Q3

    TAIWAN AREA, 2013/11/15 Taiwanese smartphone vendor HTC Corp. could see shipments fall additional than 16 % from the third quarter as its market share drops in the U.S. and Europe over the fourth quarter, a research statement predicted yesterday. Taiwan based advisory firm TrendForce Corp. said the likely drop in shipments reflects the smartphone vendor's failure to launch new products in recent months other than its initial 'phablet,' the 5.9-inch HTC One max. TrendForce's survey indicated HTC will likely ship 5.2 million smartphones during the October December period, a drop of 16.2 % from a quarter before and a huge decline of 40 % from the same period last year.
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