Korea’s Fair Trade Commission (FTC) rejected the takeover of a local glass lens company by Essilor which has a 47% global market share. This is the first rejection of a corporate takeover since 2009

2014-03-17 18:06

Essilor’s bid to buy lens firm rejected

By Yoon Ja-young
SEJONG CITY ― The Fair Trade Commission (FTC) rejected the takeover of a local glass lens company by Essilor Amera Investment, the biggest player in the global market. This is the first rejection of a corporate takeover since 2009. Read more of this post

Brothers Prahlad Rai and Kunj Bihari Agarwala have constantly moved with the times to make Rupa Garments a leading player in the country’s innerwear business

Rupa Garments: The Inside Story

by Samuel Kim | Mar 18, 2014

Prahlad Rai Agarwala (right), Kunj Bihari Agarwala

Brothers Prahlad Rai and Kunj Bihari Agarwala have constantly moved with the times to make Rupa a leading player in the country’s innerwear business Read more of this post

Looming property default in China raises fears of broader crisis; Nomura said the number of ghost towns has spread beyond the well-known disaster stories of Ordos and Wenzhou to at least eight other sites

Looming property default in China raises fears of broader crisis

Nomura said the number of ghost towns has spread beyond the well-known disaster stories of Ordos and Wenzhou to at least eight other sites

By Ambrose Evans-Pritchard

6:51PM GMT 17 Mar 2014

China faces the biggest property default on record as credit curbs threaten to break the housing boom, leaving a string of “ghost towns” across the country. Read more of this post

Beijing’s Propaganda Crisis; With the rise of the Internet, people have gradually lost faith in CCTV and other state-run media.

Beijing’s Propaganda Crisis

MARCH 17, 2014

Contributing Op-Ed Writer

By MURONG XUECUN

BEIJING — Early last month, the state-run Chinese Central Television prominently featured a report on the sex industry in the southern city of Dongguan, China’s capital of sin. CCTV reporters brought hidden cameras into hotels, saunas and massage parlors to capture vivid scenes of parading prostitutes, negotiations for sexual services and erotic dancers. Read more of this post

Joko Appeals to Nation’s Early Struggles

Joko Appeals to Nation’s Early Struggles

By Fana F.S. Putra, Erwin Sihombing & Markus Junianto Sihaloho on 08:58 am Mar 17, 2014

Jakarta Governor Joko Widodo waves to supporters during an Indonesian Democratic Party of Struggle (PDI-P) campaign rally in Jakarta on March 16, 2014. (EPA Photo/Adi Weda); Jakarta Governor Joko Widodo, center, who is running for president as the Indonesian Democratic Party of Struggle (PDI-P) candidate, smiles as he speaks to journalists during a legislative campaign tour in Jakarta on March 16, 2014. (AFP Photo/Adek Berry) Read more of this post

Despite Scandal, Indonesia Election Could Entrench Political Dynasties

Despite Scandal, Indonesia Election Could Entrench Political Dynasties

By Andrew R.C. Marshall on 11:11 am Mar 18, 2014

Makassar. In this is a scrappy, traffic-choked port city in South Sulawesi, everybody knows your name. If, that is, your name is Limpo.

The family of Syahrul Yasin Limpo, the second-term governor of this resource-rich Indonesian province, has dominated local politics for three generations, and a fourth waits in the wings. Read more of this post

– Indonesia offers pay-television distributors lucrative business, with millions of television owners and low penetration of paid programs, giving viewers alternatives to monotonous, limited programs on the country’s free-to-air television

Pay-television competition gets tougher with new players 

The Jakarta Post | Business | Mon, March 17 2014, 12:25 PM

Indonesia offers pay-television distributors lucrative business, with millions of television owners and low penetration of paid programs, giving viewers alternatives to monotonous, limited programs on the country’s free-to-air television.
Although the market is entrenched by old players, media firms are still keen on joining the battle by starting up their own pay-television firms, each trying to provide their own interesting features — from content to price — to hook customers.
The Kompas Gramedia Group and politically wired tycoon Aburizal Bakrie’s media empire, PT Visi Media Asia (VIVA), are among those planning to enter the industry this year, both tapping the huge potential offered by quadrennial soccer tournament FIFA World Cup 2014 to help pool their initial subscribers. Read more of this post

Blitzmegaplex cinema chain operator PT Graha Layar Prima to raise $41M in IPO, debt-for-equity swap with Korea’s CJ and HK’s IKT

Blitzmegaplex set for IPO, debt swap

Anggi M. Lubis, The Jakarta Post, Jakarta | Business | Tue, March 18 2014, 12:06 PM

From one screen to another: Two people buy tickets from machines at a Blitzmegaplex blitzcard corner at Grand Indonesia shopping center, Jakarta, on Monday. The operator of the Blitzmegaplex cinema chain, PT Graha Layar Prima, is offering 140 million shares to the public at a price of Rp 2,800 (25 US cents) to Rp 3,300 apiece. JP/Nurhayati Read more of this post

High logistics costs still harming RI competitiveness; With the poor condition of infrastructure and high logistics costs, it will be difficult for Indonesian industries to compete with their ASEAN peers

High logistics costs still harming RI competitiveness 

Nadya Natahadibrata, The Jakarta Post, Jakarta | Business | Tue, March 18 2014, 12:04 PM

With the poor condition of infrastructure and high logistics costs, it will be difficult for Indonesian industries to compete with their ASEAN peers, especially when the common market agreement comes into effect in the region, according to the Indonesian Logistics and Forwarders Association (ALFI). Read more of this post

SGX’s new rule: clarity needed

SGX’s new rule: clarity needed

Business Times

18 Mar 2014

Michelle Quah

THE Singapore Exchange’s (SGX) recent attempt to enhance its regulatory might was put to its first major test this past week, when Temasek Holdings made an offer for Olam International. The jury is still out on how effective SGX’s new rule is, but the incident has definitely highlighted its practical issues. Read more of this post

Malaysia should export more value, not just goods

18 March 2014| last updated at 11:37PM

Malaysia should export more value, not just goods

By Firdaos Rosli
THE media release of Malaysia’s Trade Performance 2013 highlighted many important achievements but only one that caught my eye — where it says: “despite imports outpacing exports, Malaysia still enjoyed a positive trade balance”. Read more of this post

Space rock craze hits South Korea after meteor shower

18 March 2014| last updated at 01:09PM

Space rock craze hits South Korea after meteor shower

SEOUL: A corner of South Korea is in the grip of a frenzied hunt for valuable space souvenirs, following a rare meteor shower there last week. Read more of this post

Malaysia to become MRO hub in Asia Pacific

18 March 2014| last updated at 01:33AM

Malaysia to become MRO hub in Asia Pacific

By AHMAD KAMARUL YUNUS | bt@mediaprima.com.my
MILESTONE: SR Technics’ Shah Alam facility equipped to handle labour-intensive repairs

SR Technics has moved a step closer to making Malaysia its hub for maintenance, repair and overhaul (MRO) activities in the Asia-Pacific region with the commencement of its latest facility in Shah Alam in January. Read more of this post

Technocrats the way to go in politics; Political considerations have not served Indonesians well in several sectors, and capable and honest administrators are needed

Updated: Tuesday March 18, 2014 MYT 10:42:13 AM

Technocrats the way to go in politics

BY KARIM RASLAN

Gita Wirjawan

Political considerations have not served Indonesians well in several sectors, and capable and honest administrators are needed.

ON Jan 31, 2014, Gita Wirjawan, who was Indonesia’s Trade Minister, surprised everyone by resigning from his Cabinet post in order to concentrate on his nascent political career. Read more of this post

Two ‘kampung boys’ vie for the big shoes left behind by former Sarawak chief minister Tan Sri Abdul Taib Mahmud

Updated: Tuesday March 18, 2014 MYT 7:32:33 AM

Embracing the spirit of diversity

BY JOCELINE TAN

Muhyiddin (right) greeting BN candidate Yussibnosh Balo during nomination day for the Balingian by-election. – ZULAZHAR SHEBLEE / THE STAR

Two ‘kampung boys’ vie for the big shoes left behind by former Sarawak chief minister Tan Sri Abdul Taib Mahmud. Read more of this post

Indonesian banks seen as less attractive due to shareholding restrictions

Updated: Tuesday March 18, 2014 MYT 6:59:17 AM

Indonesian banks seen as less attractive due to shareholding restrictions

BY DALJIT DHESI

PETALING JAYA: Banks in Indonesia are becoming less attractive to Malaysian financial institutions because of ownership restrictions. Read more of this post

Malaysia’s MRT Line 2 excites market, but contract awards may be a year away

Updated: Tuesday March 18, 2014 MYT 6:26:52 AM

MRT Line 2 excites market, but contract awards may be a year away

BY NG BEI SHAN

PETALING JAYA: News that the second line of the Mass Rapid Transit (MRT) has been approved excites the market, with big-cap construction stocks making notable gains. Read more of this post

Malaysia’s MRT Line 2 excites market, but contract awards may be a year away

Updated: Tuesday March 18, 2014 MYT 6:26:52 AM

MRT Line 2 excites market, but contract awards may be a year away

BY NG BEI SHAN

PETALING JAYA: News that the second line of the Mass Rapid Transit (MRT) has been approved excites the market, with big-cap construction stocks making notable gains. Read more of this post

Wider access for retail investors in M’sia, Thailand and S’pore

Updated: Tuesday March 18, 2014 MYT 6:11:38 AM

Wider access for retail investors in M’sia, Thailand and S’pore

BY DANIEL KHOO

KUALA LUMPUR: Retail investors in Malaysia, Singapore and Thailand will have access to a wider pool of investment products with the implementation of cross-border fund offerings in the region expected to happen by the third quarter of this year. Read more of this post

UK supply chain keeps Formula One on track; The supply chain – often very small companies working to short lead times – provides teams with specialist manufacturing capability they do not have in-house

March 17, 2014 8:30 pm

UK supply chain keeps Formula One on track

By John Murray Brown

As the chequered flag went down on Australia’s Grand Prix on Sunday, hundreds of small UK engineering companies breathed more easily as this year’s new engine rules failed to produce the multiple breakdowns some had predicted. Read more of this post

China bond default has positive effect on local government groups

March 17, 2014 3:15 pm

China bond default has positive effect on local government groups

By Simon Rabinovitch in Shanghai

It looks like a colossal accident waiting to happen: China’s first true bond default has laid bare the country’s financial risks just as $400bn in debt comes due this year for cash-strapped local governments. Read more of this post

China admits its ills but faces an unpalatable cure

March 17, 2014 6:13 pm

China admits its ills but faces an unpalatable cure

By Minxin Pei

Beijing can either prop up ailing borrowers or allow them to fail, writes Minxin Pei

Finally, Chinese leaders have admitted what the market has been saying for some time: defaults by Chinese borrowers are all but inevitable, possibly on a significant scale. Responding to questions at a news conference last week, Li Keqiang, the Chinese premier, admitted that “isolated cases of default will be unavoidable”. Read more of this post

France Has a Formula for China’s Baby-Milk Needs

France Has a Formula for China’s Baby-Milk Needs

Plant Under Construction in Brittany Fills Supply Gap While Bolstering Farms

RUTH BENDER

March 17, 2014 5:19 p.m. ET

Synutra CEO Liang Zhang, left, and Carhaix Mayor Christian Troadec in January. Zuma Press

CARHAIX, France—Mayor Christian Troadec is trying a new formula to revive his sleepy town in central Brittany: quenching Chinese thirst for baby milk. Read more of this post

Chinese Companies Caught in Yuan Riptide; Bets by Firms and Individuals on a Rise in Currency Face Losses as Country Changes Tack

Chinese Companies Caught in Yuan Riptide

Bets by Firms and Individuals on a Rise in Currency Face Losses as Country Changes Tack

ANJANI TRIVEDI

Updated March 17, 2014 11:14 p.m. ET

China’s yuan weakened against the U.S. dollar Monday after the central bank doubled the currency’s daily trading band. The WSJ’s Jake Lee talks to CIBC’s Asia strategist about the effects this move will have on the yuan. Read more of this post

Chinese Property Developer Zhejiang Xingrun Defaults on $400M Bank Loans; The default is unusually large for a developer in one of China’s most affluent regions

Chinese Property Developer Zhejiang Xingrun Defaults on Bank Loans

Default Is Unusually Large for Developer in Affluent Region of China

DINNY MCMAHON and ESTHER FUNG

March 17, 2014 10:59 p.m. ET

BEJIING—Zhejiang Xingrun Real Estate Co., a property developer based in a small city south of Shanghai, is unable to repay almost $400 million worth of bank loans, a person at the local government financial affairs office said Tuesday. Read more of this post

South Korea’s Governors of Northern Provinces Don’t-And Never Will-Govern

South Korea’s Governors of Northern Provinces Don’t—And Never Will—Govern

Appointed Officials Have Perks and Offices but Don’t Enter the North

ALASTAIR GALE and KWANWOO JUN

Updated March 17, 2014 10:32 p.m. ET

Park Kee-jung, shown in his office, was appointed governor of North Hamgyong Province in North Korea’s northeast last year. Kwanwoo Jun/The Wall Street Journal Read more of this post