Regional News

Qualcomm to Invest $1 Billion in Taiwan Display Plant

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MirasolTaiwan’s Ministry of Economic affairs announced that Qualcomm, Inc. has decided to invest $1Billion in 2011 to build a plant in Taiwan. The factory will manufacture computer screens using the Mirasol technology. There were very few details given and by Qualcomm’s representative, Mr. Adrian Fu was unavailable for questions.

These displays are excellent for electronic book readers, due to their low power usage. The total market for Marisol type displays is approximately annual sales of $11 Billion, according to Qualcomm Chairman and CEO, Paul Jacobs.

Royal Bank of Scotland Merges with Faysal Bank Limited

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Faysal Bank Limited has merged with the Pakistani division of the Royal Bank of Scotland limited.

Faysal Bank issued a press release stating that “This merger has been completed in record time, within three months of acquiring controlling interest.” In addition, all RBS branches in Pakistan are now being marketed under the Faysal Bank label.

Faysal Bank now has a network of more than 200 branches throughout the country. Its new asset base is more than Rs250 billion. Naved A Khan, the president of Faysal Bank noted that “This merger results in greater career and development opportunities for employees.”

Ithmaar Bank BSC, a retail-oriented Islamic bank, headquartered in Bahrain is the majority shareholder of Faysal Bank.

Domestic Vietnamese Companies Invested $900 Million Overseas This Year

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VietnamOf pledged investments of approximately $2.93 billion by Vietnamese companies, approximately $900 million have been invested in projects overseas. In 2010, private and state owned companies have invested in 25 countries in 107 projects according to the Ministry of Planning and Investment.

The Ministry of Planning and Investment reported that Vietnamese companies’ investments of $900 million was invested as follows: $700 million was invested in oil exploration and extraction projects, $53 million was invested in the retail trade, $70 million went into agriculture projects, $25 million was invested in energy, and $33 million was invested into telecommunications. Most of these investments have not brought any income into Vietnam because they are still in the beginning stages.

South Korea Interested In Producing Stealth Jets

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South Korea is investigating the possibility of adding stealth jet fighters into its arsenal. They will develop and manufacture as much of their own technology as they are able. The planes should roll off the production lines by 2015.

North Korea’s murderous artillery barrage of Yeonpyeong Island in November has encouraged officials in Seoul to approve developing technology for stealth aircraft.

The possession of stealth aircraft would enable South Korea to develop the military aviation technology of the western nations. The South will also be able to exert psychological pressure on North Korea because stealth technology with enable the South to launch surprise air attacks which North Korea cannot detect via radar.

Hyundai Makes Rs400 Crore Investment In New Indian DieselEngine Plant

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HyundaiHyundai Motors has operated successfully in India and has solidified its operating procedures there over the past several years. During the next three years Hyundai will build a new diesel engine factory costing Rs400 crore. Recent feasibility research showed this to be an appropriate investment according to the CEO. Three different sized engines will be produced.

The new factory should be opened in 2013 or 2014. It will produce diesel engines for the Indian market. These engines will be in three sizes: 1.1 liters, 1.4 lit, and 1.6 lit. Hyundai’s Sales and Marketing Director said that this year Hyundai had to use all of its production to satisfy growing local demand. In previous years, Hyundai’s Indian division was able to produce enough cars for both the Indian and foreign markets.

Sompo Japan to ally with Bank of Shanghai

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SompoThe Bank of Shanghai will create a sales partnership with Sompo Japan Insurance Inc. the deal may be publicized on Monday.

The Chinese division of Sompo Japan will begin marketing policies to business clients through the Bank of Shanghai in early 2011.

The Bank of Shanghai will acquire insurance experience form its Japanese counterparts. Meanwhile, the Japanese company will increase profits through expanding into the rapidly growing Chinese market.

Slowdown In Growth Expected In Thailand

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After the Thai economy’s impressive performance this year, which is forecast to have expanded by between 7 and 7.5 percent, next year is forecast to be much more difficult.

According to many research houses Thailand’s economic growth next year id forecast to be about 4 to 5 percent. This is largely due to a reduction in exports resulting from a debt hangover in Europe and the weakening recovery in America.

The Thailand government hopes that investment and domestic consumption will make up for the export deceleration. It plans budget deficits for the current fiscal year ending in September 2011, and the next fiscal year.

UKI Receives Largescale Acceptance of Anti-Counterfeit Solutions

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/UKIUKI Systems has achieved quick acceptance for its recently released InspectaScanTM authentication device, said UKI Group CEO, Mr Anthony Dunlop. This accelerates the penetration of its Product Authentication and Anti-Counterfeiting solution in some of its markets. InspectaScanTM is the start of a new group of UKI anti-counterfeit scanning devices.

“Our recent success stems in large part from our alignment with vertical sectors such security printing and product manufacturing and packaging, to reach industries such as food, pharmaceuticals, tobacco and alcohol,” said Anthony Dunlop. “We are particularly glad to see adoption coming from Asia, which continues to build on its status as manufacturer to the world.”

China Plans 15 billion Dollar Investment Over Five Years To Develop Farmland

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China-grainAccording to the Chinese Ministry of Land and Resources, MOLAR, the Chinese government intends to spend more than 15 billion U.S. dollars over the next five years to develop farmland for the nation’s food security.

The plan is to improve about 4 million hectares of land and replenish an additional 670,000 hectares of arable land in its major grain producing regions. These are Hebei, Jilin, Heilongjiang, Jiangsu, Anhui, Jiangxi, Shandong, Hubei provinces and Inner Mongolia and Guangxi autonomous regions.

If all goes well, the grain production capacity will be increased by an extra 10 million tons every year.

Thakral Sets New Strategy For Real Estate Business

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Thakral Corporation will partner as a financial investor with with developers to implement its new strategy for its real estate business.
In its filing with the Singapore Exchange, the company wrote that as a capital investor, it seeks to invest in affordable mid-sized residential developments located in cities in Asia Pacific and Australia.

Thakral indicated that its new strategy will generate a second revenue stream for the company.

The firm is seeking returns of 15 to 25 per cent, with an exit strategy in 12 to 36 months.

Mr Singh said, “We will receive our returns and capital when the projects are completed and all units already pre-sold to buyers are settled.”

Thakral already owns commercial and residential property holdings in Hong Kong and China.

In addition to real estate, Thakral also distributes consumer electronic products in Singapore, India, China and Japan.