Business in Asia Today -- Jan. 29, 2002.

SYDNEY, Australia -- A summary prepared by Asia Pulse (http://www.asiapulse.com/), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:

JAPAN'S ASAHI GLASS TO SEE FIRST GROUP NET LOSS IN FY01

TOKYO - Asahi Glass Co announced restructuring plans Monday that include the closing of its CRT (cathode-ray tube) glass plant in Chiba Prefecture, and said it expects its first group net loss ever in fiscal 2001. The restructuring plans also include a reduction of chemical operations at the head office, and reflect the slump in information technology sales and greater losses by the company's chemicals business. Due to greater restructuring expenses, Asahi Glass projects a consolidated net loss of 9 billion yen (US$67.39 million) in fiscal 2001, a sharp turnaround from the 24.7 billion yen profit made the prior year.

WORK STARTS ON DUKE ENERGY INTL'S TASMANIAN GAS PIPELINE

SYDNEY - Construction of the $A400 million ($US206.88 million) Tasmanian Gas Pipeline started today, with the first trenches going down in the Tamar Valley. Duke Energy International (DEI) president and chief executive Richard McGee said the pipeline, to be completed by mid-year, would stimulate economic growth in the island state. More than 700 people are to be employed on the construction phase of the project.

TWO CHINESE IT FIRMS POST RECORD SALES OF US$7.2 BLN IN 2001

SHANGHAI - Two Chinese information technology businesses reported record sales of more than 60 billion yuan (US$7.2 billion) each last year, a senior Chinese IT analyst said. They are the China Putian Group, a major manufacturer of telecommunication equipment, and the Haier Group, China's leading electric appliances manufacturer. Sales from four other enterprises topped 20 billion yuan in 2001, according to Wu Jichuan, Minister of Information Industry. Sales from China's top 100 IT enterprises made up 63 per cent of all sales in the sector and pretax profits accounted for 65 per cent of the total.

FOUR SEASONS GROUP BEGINS OPERATING IN CHINA

SHANGHAI - The Four Seasons Hotel Management Group, a Toronto-based hotel chain, opened its first property in China on January 28. Shanghai Four Seasons hotel is owned by the Four Seasons Hotel Management Group, Shanghai Jing'an District and Shanghai Industrial Investment Co., Ltd. The management group holds a 21 per cent stake. Shanghai, which now has 15 five-star hotels, attracted over two million overseas tourists last year.

CITS, AMEX SET UP FIRST SINO-US BUSINESS TRAVEL JV

BEIJING - China International Travel Service [CITS] and American Express have established a joint venture by the name of CITS American Express Travel Services Limited in Beijing - the first Sino-US business travel joint venture in China. The company will provide business travel management services to clients from multinational corporations, regional companies and domestic companies throughout the country. Services to be provided by the company include the obtaining and handling of visas, international and domestic flight reservations, hotel reservations and convention services.

JAPAN'S DIGITAL CAMERA SHIPMENTS LEAP 42.7 per cent IN 2001

TOKYO - Shipments of digital cameras in 2001 rose 42.7 per cent on the year to 14.75 million, while film camera shipments fell 13 per cent to 27.6 million units, according to statistics compiled by the Japan Camera Industry Association. The association expects digital camera shipments in 2002 to rise 28.8 per cent to 19 million units. Shipments of film cameras are seen falling 6.7 per cent to 25.75 million, a slower decline than in 2001 due to stronger overseas demand for compact cameras equipped with zoom lenses.

SINGAPORE'S QIAN HU IN THAI FISH FARMING VENTURE

SINGAPORE - Qian Hu Corporation said it has entered into a 20-year joint venture agreement with two Thailand nationals to breed and farm ornamental and food fishes in Thailand. The joint venture will also conduct import and export business and local retail sales and distribution of the fish and aquatic plants. The business will be conducted through Thai Qian Hu Company Limited [TQH], a company registered in Thailand with a registered share capital of Baht 5,000,000 (US$113,500).

QUANTA, TAIWAN CELLULAR ANNOUNCE CELLPHONE PARTNERSHIP

TAIPEI - Taiwan's leading notebook manufacturing company Quanta Computer and mobile communication industry leader Taiwan Cellular formally announced Monday a strategic partnership for the design, manufacture and marketing of cellular phones. The two firms expect over 500,000 color-screen phones will be manufactured by Quanta this year and marketed by the cellular phone service provider. The new model to be marketed, branded the Q285, is based on a design by Giya, a company founded in 2000 with joint funding from the two companies.

GAZ DE FRANCE SEEKS INDIAN PARTNER FOR EQUITY STAKE IN DPC 

DAHEJ, Gujarat - French gas major Gaz de France (GDF) is looking for an Indian partner to take 85 per cent of the offshore equity in Enron-promoted Dabhol Power Project (DPC). GDF project director Jacques Gautier said his company would like to bid with an Indian partner for the 2184 MW power project and associated energy LNG facilities. GDF is talking to a number of Indian companies on possible partnerships for the bidding, but nothing has been finalised yet.

KOREAN INDUSTRIAL OUTPUT SHOWS SHARP RISE IN DECEMBER

SEOUL - Hopes of an early economic recovery for South Korea have been given fuel by a sharp increase in industrial output for December, 2001 for the second consecutive month of strong growth. Manufacturing production rose 3.3 per cent year-on-year in December, following a 5.0 per cent on-year rise in November, according to figures released by the National Statistical Office (NSO) today. The NSO remained cautious, saying it needs to closely follow an upward trend for at least six consecutive months before confirming the economy has bottomed out and is in recovery.

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