Asian economic and corporate news summary

Asian economic and corporate news summary

	Published : Wed, 07 Feb 2007 06:34 By : Agencies Print this Story

BEIJING (AFX) - A summary of Asian economic and corporate news at 0500 GMT

JAPAN:

-Japan end-Jan forex reserves edge up to 895.38 bln usd

-MoF official says yen won't be main agenda at G7 meeting

-Toray April-Dec net profit 40.63 bln yen vs 28.0 bln yen

SOUTH KOREA:

-NCsoft Q4 net profit 18.7 bln won vs 19.8 bln

-SK Telecom says subscribers to US mobile venture top 70,000

HONG KONG:

-Germany's Steinbruck says G7 will have to discuss yen at this week's meeting

-Esprit H1 to Dec net profit seen up 23 pct yr-on-yr - BOC Intl

-Lenovo confirms IBM 300 mln shares placement at 3.20 hkd

-Fufeng Group says Hong Kong IPO retail tranche 638 times oversubscribed

-Coastal Greenland to sell 50 pct of unit for 51.42 mln usd

-Vantage Intl to sell commercial property for 113.0 mln hkd

CHINA:

-Yuan's rise not in response to US pressure - Chinese central bank advisor

-Central bank closely monitoring inflation pressure - vice governor

-Forex adjustment can't solve Sino-US trade differences - central bank advisor

-China says govt approval needed to transfer non-performing debt to foreigners

-China sees 2007 crude steel output at 460 mln tons - economic planner

-Coal price seen up 6 to 8 pct in 2007 - state media

-Beijing tax bureau says enforcing collection of 5 pct tax on house lease income

-China Minsheng Banking to issue 2 bln additional A-shares via placement

-ICBC in strategic alliance with Chalco

-Jiaozuo Wanfang 2006 net profit 275.73 mln yuan vs loss 121.83 mln

-State Devt and Investment Corp 2006 profit 4.06 bln yuan - Xinhua

-Actions Semiconductor Q4 net profit up on strong sales

-CDC Corp raises 2006 net profit forecast to 34.3-35.0 mln usd

-Peugeot Citroen China jv Jan sales 20,325, up 26.3 pct yr/yr

-Datang Mobile to build TD-SCDMA center with SK Telecom

-Angang New Steel, Bengang Steel deny merger report

-Sinosteel to pay Australia's PepinNini 1 mln aud to finalize jv

-China National Nuclear says to list Qinshan plant, backdoor transaction possible

-Blast at China's CNPC Lanzhou unit injures six - state media

TAIWAN:

-Nan Ya Plastics Jan parent sales 15.64 bln twd vs 14.21 bln

-Formosa Chemicals Jan parent sales 14.41 bln twd vs 13.73 bln

-BenQ Jan consolidated sales 10.52 bln twd vs 19.51 bln

-MediaTek Jan parent sales 5.06 bln twd vs 3.88 bln

-China Airlines 2006 parent net profit about 700 mln twd vs 645.23 mln

-Chinatrust Financial Jan net profit 40 mln twd vs loss 8.87 bln in Dec

-Tatung unit gains 384.70 mln twd from sale of Green Energy shares

-TSMC buys 1.60 bln twd worth of machinery from Lam Research

SINGAPORE:

-Govt to release 2006 and Q4 2006 GDP data on Feb 14

-Singapore Telecom end-Dec regional mobile users 112 mln vs 77.8 mln yr ago

-Ascott Group, Amtel to set up 100 mln usd fund to invest in Russia

-Koon in reverse takeover deal with India's Valecha Engineering

-Olam, Chinatex in oilseeds, cotton joint ventures