Crunch time

Article Abstract:

Companies throughout Asia are experiencing difficulty in raising finance. They need to take urgent steps to boost investor confidence. They particularly need to increase transparency. The lack of investor confidence affects even the good companies. Advance Agro, for example, which is a Thai paper company with a good record, had to lower a bond issue from $150 million to $111 million and pay more than 15% interest. The lack of available credit in Asia is leading to consequences including debt repayment delays, investment postponement and liquidations.

PAPER AND ALLIED PRODUCTS, Paper & Allied Products, Paper Manufacturing, Capital Management-Stock Sales, Finance, Business enterprises, Paper industry, Corporate bonds, Stock offerings, Advance Agro

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More information, more money

Article Abstract:

Asian governments' policies toward information typically discourage such large, long-term international investors as US pension funds and life-insurance companies. These entities follow due-diligence rules that require timely, reliable data from independent sources to guide their decisions. Yet most Asian countries, notably China and Singapore, treat economic data as state secrets, impose tight controls on the press, and release unwarranted optimistic announcements that belie the true state of affairs. That hurts Asia's growth potential.

International trade, Column, Freedom of the press

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In for the long haul

Article Abstract:

European engineering group ABB is keen to establish a stronger presence in Asia, despite the region's current financial difficulties. It will move up to 10,000 jobs from expensive European facilities to sites in Asia, and aims to boost its presence in Asia by half in the period to 2000. Asia accounted for just over one-fifth of ABB's $34.6 billion in revenues in 1996, and this proportion is set to rise to around one-third by 2008. Asia offers ABB both future markets and cheaper production sites.

Engineering Services, Foreign operations, Engineering firms, Company Profile, ABB Asea Brown Boveri Ltd.

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