Astra sells chip factory to U.S. group

Article Abstract:

PT Astra International, the Indonesia's leading auto assembler, has sold its microprocessor plant on Batam Island, near Singapore, to Newbridge Asia, a US-based investor group, for $90 million. Astra sold the plant, PT Astra Microtronics Technology, in line with its earlier announcement that it would sell some noncore operations. The sale is expected to lessen the company's debt load, which totals $2 billion in foreign debts and two trillion rupiah ($172 million) in domestic debts. Revenue at the plant has grown at an annual rate of 30% during the past three years, said Newbridge Asia.

Comment:

Buys PT Astra Intnl's microprocessor plant on Batam Island, near Singapore, for $90 million

Semiconductor Devices, Semiconductor and Related Device Manufacturing, Asset sales & divestitures, Investment Companies, Open-End Investment Funds, Indonesia, P.T. Astra International Tbk, Newbridge Asia, Article

---

Greek bank to join big board soon

Article Abstract:

The National Bank of Greece SA announced that it is planning to starting trading American depositary receipts on the New York Stock Exchange. The bank is planning to start trading the receipts in the latter half of October 1999. Up to four million shares will be offered for sale in the US and in Greece. The shares will be offered through a public subscription at 1,450 drachmas (4.41 euros) per share.

Securities issued, listed, National Bank of Greece S.A.

---

Brandes is told to cut DBS Bank stake

Article Abstract:

The government of Singapore ordered Brandes Investment Partners of the US to reduce its 7.1% stake in DBS Bank to 5% because Singapore banking law decrees that ownership of more than 5% of any bank must gain prior government approval. Shares of DBS investor DBS Group Holdings Ltd could be effected.

Government regulation (cont), Singapore, Subsidiary-to-parent activities, Investments, Banking law, DBS Group Holdings Ltd., DBS Bank Ltd., Brandes Investment Partners Inc.

Similar abstracts:

• Abstracts: PricewaterhouseCoopers workers rebel. U.S. accounting board faults global rules
• Abstracts: The Full Monty. European banks stage fightback. Regionals lose out as Greenhill romps home with boutique crown
• Abstracts: Education at the crossroads. We need confidence born of competence. The merry dance of fee collection
• Abstracts: Job shop scheduling with beam search. Analysis of reactive scheduling problems in a job shop environment. Optimal streaming of a single job in a two-stage flow shop
• Abstracts: SAirGroup confirms interest in LTU stake. Cathay returned to profit in 1st half. SAirGroup says net fell 32% in half

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.