Asian economic and corporate news summary

Asian economic and corporate news summary

	Published : Thu, 11 Jan 2007 06:51 By : Agencies Print this Story

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

JAPAN:

-End-Dec forex reserves fall to 895.32 bln usd from 896.95 bln in Nov

SOUTH KOREA:

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

-SK Group targets 73 trln won sales; 7 trln capex for 2007

HONG KONG:

-China move on yuan bonds in HK key step for currency to move to intl stage -Yam

-Yue Yuen Indl Dec net opg revenue 336.09 mln usd, up 6.8 pct on-mth

-Public Financial 2006 net profit 496.64 mln hkd vs 446.30 mln

-Shanghai Electric non-executive director arrested

-CITIC Pacific to spin off telecom unit

CHINA:

-China needs to reform fiscal spending to increase domestic consumption - NDRC

-China reassures Israel over Iranian nuclear program - Olmert

-China to start building Beijing-Shanghai high speed train this year - Xinhua

-China securities regulator denies reported plan to reform B-share market

-Bank of East Asia considering China Depositary Receipts issue

-Agricultural Devt Bank of China 2006 opg profit 8.77 bln yuan, up 62 pct -Xinhua

-Huaneng Power 2006 power generation up 6.24 pct at 159.9 bln kwh

-Huadian 2006 electricity output 52.53 bln kwh, up 12.2 pct

-Chongqing Brewery sees 2006 net profit up over 50 pct

-US-based China Wireless delivers Lenovo technology to China's Tianjin YunKe

-PacificNet signs CRM joint venture agreement with Japan's Bellsystem24

-China Telecom confirms Q-BOX order with UTStarcom

-Mingyuan Group chairman arrested - state media

TAIWAN:

-Hon Hai Dec parent sales 94.41 bln twd vs 83.82 bln

-Far EasTone 2006 unaudited parent pretax profit 16.13 bln twd vs 17.86

-Chunghwa Picture Dec parent sales 8.03 bln twd vs 8.62 bln twd

-Shin Kong Financial 2006 unaudited net profit 5.33 bln twd vs 7.16 bln

-Chinatrust 2006 unaudited net loss 10.17 bln twd vs profit 16.12 bln

-Taishin 2006 unaudited net loss 11.86 bln twd vs loss 2.91 bln

SINGAPORE:

-First REIT sets up 90 mln-sgd credit facility with OCBC

-Synear Food to invest 150 mln yuan in land, facilities in China

MALAYSIA:

-Tradewinds Corp has no information on reported privatization plan

-UMW gets approval to set up China unit

-Lion Forest gets approval to sell SFI stake for 261 mln usd

-RHB Investment Bank arranges 950 mln rgt loan deal