Archive | March, 2004

CHINA: IFC agrees to invest US$5 million in Chinese LPG terminal firm

BEIJING (AFX-ASIA) – The International Finance Corporation, the investment arm of the World Bank Group, has agreed to invest US$5 million in China’s Zhongchen Energy Storage Company, according to a statement on IFC’s website. Zhongchen Energy operates a liquefied petroleum gas (LPG) marine import terminal in northern China’s Tangshan city, Hebei province. The IFC investment […]

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US: Oil refiners end lower after Texas terror warning

LOS ANGELES (AFX) — Large oil companies and refiners closed lower last week after the FBI warned refineries in Texas they might be targets of terrorist attacks. Speculation mounted that OPEC would delay planned output quota cuts amid concerns over recent price rises. Indeed, OPEC President Purnomo Yusgiantoro said overnight that there was a possibility […]

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SINGAPORE: SPC to issue US$184.4 million convertible bonds for business expansion

Singapore Petroleum Company Limited (SPC) is proposing to issue US$184.4 million unsecured convertible bonds. The US$ denominated bonds will bear interest at the rate of 1.75% per annum, payable semi-annually. In a statement, the company said the bonds, which have a term of five years, will be convertible into new SPC ordinary shares of S$0.50 […]

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JAPAN: Mitsubishi Heavy awarded repair contract for Iraq power plant

The UN Development Program said Japan’s Mitsubishi Heavy Industries has been awarded an $8 million contract for repairs on a thermal power plant in southern Iraq. According to a Japan Times report, the contract involves restoring power-generating facilities at the plant in Hartha, Basra Province, and power transmission lines in the region. The power plant, […]

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AUSTRALIA: China underwriting the future of Australian companies – Macquarie

SYDNEY (AFX-ASIA) – China is becoming an increasingly significant factor in the performance of many listed Australian companies, particularly in the resources sector, Macquarie Bank Ltd executive director Warwick Smith said. Mr Smith, who is also chairman of the Australia/China Business Council, headed recent visit to China by Macquarie Bank equity analysts, and that tour […]

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