Asian economic and corporate news summary

Asian economic and corporate news summary

	Published : Thu, 08 Feb 2007 06:37 By : Agencies Print this Story

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

JAPAN:

-Jan bank lending up 1.8 pct yr-on-yr, same pace in Dec

-Jan money supply up 1.0 pct yr-on-yr, beats forecast

-Dec industrial machinery orders down 19.2 pct yr-on-yr - association

-5-yr govt bond auction lowest accepted price 99.81 yen; yield 1.241 pct

-Mitsui OSK April-Dec net profit 87.5 bln yen vs 90.0 bln yen

-Mitsui OSK Lines 9 mths net profit falls 2.7 pct on higher fuel costs

-Mitsubishi Estate 9 mths net profit 50.1 bln yen vs 33.8 bln

-Nippon Yusen 9 mths net profit 48.6 bln yen vs 76.1 bln

-Mitsubishi Heavy April-Dec net profit 38.5 bln yen vs 21.0 bln yen

-Mitsubishi Heavy lifts FY net profit forecast to 46 bln yen from 40 bln

-K-Lines April-Dec net profit falls nearly 30 pct on costlier fuel

SOUTH KOREA:

-Jan consumer expectations index 96.1 vs 93.7

-Bank of Korea keeps Feb call rate target unchanged at 4.5 pct

-KEPCO 2006 net profit 2.07 trln won vs 2.45 trln

-LG Card Q4 net profit 244.5 bln won vs 228.1 bln

-LG Card Q4 opg profit up on lower delinquency ratio

-Daum Q4 net profit 1.6 bln won vs loss 7.1 bln

-Daum posts Q4 turnaround on increased sales, units' profitability

-Hana Financial to set up China unit with operations starting next yr

HONG KONG:

-New World Cyberbase to acquire coal firm for 1.2 bln hkd

-HSBC Hldgs warns 2006 loan provisions 20 pct above consensus estimate

-Guo Xin in talks to invest in resources-related company

-Japan's NTT DoCoMo to add new global-roaming capabilities in top-end phones

CHINA:

-China to set up more TD-SCDMA networks in second round of testing from March

-Shanghai end-Dec OTC derivatives held by foreign banks 40 bln usd

-China issues new rules on futures, options

-China adjusts coking coal, salt resource tax rates

-Shenzhen Chiwan Wharf Jan cargo turnover 5.127 mln tons, up 24.7 pct

-China National Aviation Fuel 2006 revenue 56.3 bln yuan - Xinhua

-Liuzhou Iron & Steel sets Shanghai IPO price at 10.06 yuan

-Chongqing Iron & Steel sets Shanghai IPO price at 2.88 yuan

-Hong Kong's Rotary Vortex to offer 3.63 bln yuan for 39 pct of Henan Shuanghui

-China Vanke to set up 1 bln yuan property development jv with AVIC I unit

-UK's Tesco to add 10 more stores in China this year - state media

-Indonesia's Asia Pulp purchase of China's Yunnan Forestry stake blocked

-Sinochem International says parent has no plans to list as a group

-Irish Mag completes 2nd private placement of 7.87 mln shares

TAIWAN:

-Chunghwa Picture Tubes Jan consolidated sales 10.12 bln twd vs 9.88 bln

-Cathay Financial Jan net profit 3.07 bln twd vs loss 5.99 bln in Dec

-Chinatrust sees 2007 profit similar to 2005 levels; no forecast details

-Taiwan Cement unit gains 115.48 mln twd on sale of Far EasTone shares

-Teco unit gains 31.12 mln twd on sale of High Tech Computer shares

-BenQ takes 13 pct stake in Lite-On IT as part of storage ops sale deal

-Uni-President unit has 31.84 pct of Wei Lih Food

SINGAPORE:

-Singapore Telecom Q3 net profit 994 mln sgd vs 882 mln

-Singapore Telecom Q3 net profit up 12.6 pct on associate contributions

-SingTel's Australian unit Optus grows mkt share despite Q3 earnings fall

-Ascott Group 2006 net profit 151.27 mln sgd vs 41.92 mln

-Hsu Fu Chi Q2 net profit 102.12 mln yuan vs 122.70 mln

-StarHub picks Huawei to upgrade 3G network