Asian economic and corporate news summary

Asian economic and corporate news summary

	Published : Fri, 12 Jan 2007 06:23 By : Agencies Print this Story

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

JAPAN:

-Dec bank lending up 1.8 pct yr-on-yr, outpaces 1.2 pct rise in Nov

-Dec money supply up 0.8 pct yr-on-yr, in line with forecast

-Bank of Japan governor reiterates economy expanding moderately

-Japan probes suspected bird flu outbreak

-Mitsubishi Motors considering producing cars in Russia

SOUTH KOREA:

-Samsung Electronics Q4 opg profit 2.05 trln won vs 1.85 trln in Q3

-Samsung Elec Q4 opg profit up 11 pct vs Q3 on strong chips, LCD ops

-Samsung Elec targets 2007 sales of 63.6 trln won; capex at 8.1 trln won

-Samsung Elec plans 1.8 trln won buyback beginning Jan 16

-SKorean court rules against Starbucks in trademark dispute with Korean firm

-Hyundai Motor union decides to strike

HONG KONG:

-Dragonair 2006 passengers up 8.3 pct yr-on-yr; cargo up 2.6 pct

-Esprit investor to place 13 mln shrs at 79-79.5 hkd each - source

-Chinese Estates says REIT plan at early stage

CHINA:

-Macroeconomic controls achieve 2006 objectives - central bank

-China to increase crude imports from Saudi Arabia by 44,000 bpd in 2007

-China Exim Bank end-2006 NPL ratio 3.47 pct

-Bank of Communications to be listed in Shanghai by March at earliest

-China Vanke sees 2006 net profit up 50-65 pct on increased property sales

-BMW China 2006 sales 36,357 units, up 51.3 pct

-Shanghai Auto 2006 sales 1.34 mln units, up 27 pct year on year

-TRW Auto to supply safety systems for Shanghai Auto's new Roewe

-TCL Corp sees 2006 net loss

-Hong Yuan Securities sees 2006 net profit at about 230 mln yuan

-Minsheng Securities 2006 net profit 175 mln yuan

-China Life to pay 350 mln yuan for 10 pct of Huishang Bank

-Sinopec Wuhan to offer 3.2 bonus shares per 10 tradable A-shrs in reform plan

-PetroChina, State Forestry Administration in biomass base tieup

-China SASAC approves state share reform plans of 2 Chalco units

-Tianfa Petroleum denies reports of restructuring talks with Sinopec

-Irish Mag sees three govt contracts totalling 10 mln usd completed in Q2

-China securities regulator rejects Gree Electrical new-share issue plan

-Baoshan Iron & Steel denies reports of overseas listing

-Jiangxi Cement denies takeover rumors

-Vimicro appoints private equity executive as acting CFO

TAIWAN:

-Govt to review Carlyle's proposed purchase of ASE in late Jan at soonest

-Acer gains 289.64 mln twd on sale of TSMC shares

SINGAPORE:

-Asia Pacific Breweries unit to buy group's 5th Vietnamese brewery

-FabChem says potential share sale not more than 29.9 pct

MALAYSIA:

-Malaysia to maintain fuel prices for now, continue stake cuts in GLCs - minister

-MAS may enter into code-sharing deal with India's Jet Airways

-Malaysia govt confirms General Motors' interest in Proton