Tag: Asia

Vietnam Post and Motorola sign cooperation agreement on WiMAX

Posted by | Jun 21, 2007 | |

On June 21, under the witness of President Nguyen Minh Triet and Minister of Posts and Telematics Do Trung Ta, the Vietnam Data Communications Company (VDC), a subsidiary of the Vietnam Posts and Telecommunications Group (VNPT), signed an agreement with Motorola on the pilot implementation of WiMAX in Hanoi and HCM City.

The test will take place over one year, starting from October 2007. The first phase will be carried out in central Hanoi and the second phase will be in central HCM City.

“We believe that wireless broadband can really contribute to improving the living standards in Vietnam and help Vietnamese people access the knowledge-based economy. The use of WiMAX is the best way to serve our customers and subscribers in the future,” said VNPT Chairman Pham Long Tran.

The implementation of wi4 WiMAX solution of Motorola is expected to help VDC have more Internet subscribers, satisfy its client�s demands for broadband and provide IP (Internet Protocol) services such as VoIP (Voice over Internet Protocol) without wire infrastructure.

Motorola Vietnam General Director David Knapp said that this test showed the vision and the effort of VNPT in improving the national network infrastructure.

The WiMAX technology is part of the set of wireless solutions and services of Motorola, which provides and expands IP network coverage everywhere.

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Transmile, DHL Partner in Malasia, involved in accounting scandal

Posted by | Jun 20, 2007 | |

Malaysian cargo airline Transmile, a DHL Express partner for inner-Asian and transpacific routes, has been hit by an accounting scandal that has forced the resignation of its chief executive.

Transmile Group Bhd’s founder and chief executive officer, Gan Boon Aun, has relinquished his post following the recent disclosure of a string of irregularities in the company’s accounts.

Transmile also said that its board of directors has lodged a report with the police and the Securities Commission over the false statements and documents in relation to its revenue, property, plant and equipment and payments to third parties as reported by Moores Rowland Risk Management Sdn Bhd.

Transmile added that Moores Rowland will carry out a special audit covering areas including possible under-billing and non-billing of genuine sales between Transmile Air Services Sdn Bhd and CEN Worldwide.

The firm has remained silent on whether it will take action against those responsible since it told Bursa Malaysia on May 7 that its audit could not be finalised due to the absence of some documents.

Meanwhile, shares of Transmile dived 17.4 per cent to a three-year low when they resumed trading yesterday. Trading has been halted at the company’s request since Friday. The stock has fallen some 60 per cent so far this year.

Based on the special audit by Moores Rowland, Transmile would post pre-tax losses, not profits, in fiscal years 2005 and 2006, and see a much smaller profit in fiscal year 2004.

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Postal service to go green in Gujarat

Posted by | Jun 20, 2007 | |

The Department of Postal Service has decided to convert its fleet of mail delivery vans to run on compressed natural gas. The entire fleet will be phased out and it will be replaced by the new CNG vans.

The implementation has already begun from Ahmedabad, Gujarat, where four CNG vans have been included in the fleet. The department has taken the step as a part of its social responsibility.

The implementation of the decision will be done in a phased manner.

The department has over 250 mail delivery vans in its fleet in Gujarat. Gujarat is divided into three regions — Ahmedabad, Rajkot and Vadodara.

Dashora refused to reveal the expenditure on this project but said that the expenditure will be funded by the Indian Postal service department.

The mail delivery van fleet falls under the Motor Mail Service of the Indian Postal Service and the department will be responsible for implementing the decision.

Dashora said that it is not possible for him to give any timeframe for the process to end as the existing vans will be replaced with CNG ones as they get old.

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DHL Strengthens Middle East-China Trade Lane

Posted by | Jun 19, 2007 | |

DHL announced a service enhancement to streamline shipping between the UAE and its 4th largest trading partner, China.

The enhanced DHL UAE-China Service is set to expedite shipments between both markets, offering streamlined service for UAE customers importing from the second largest economy in the world and the fastest growing trading partner with the UAE.

Using Time Definite deliveries and the Import Express product, DHL customers can – with one phone call – move goods from China to the UAE or any other destination using the UAE-China trade lane and pay for delivery in their home country – one invoice and one currency. Shipments stay within the DHL system from origin to destination allowing for easy tracking, anytime.

Future DHL improvements to support the flow of goods and documents between UAE and China will include additional ground network upgrades and ground fleet enhancements as well as added flights. DHL shipments in China are guaranteed daily uplifts and cargo space through 11 dedicated gateways – including four major gateways in Beijing, Shanghai, Guangzhou and Shenzhen – as well as 73 service centres covering 318 cities and over 500 flights per week.

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DHL and Indian Blue Dart Express in the final step of delisting process

Posted by | Jun 19, 2007 | |

Shares of Blue Dart Express surged by nearly 10% on Monday on the BSE on talk that DHL has agreed to an offer price of Rs 950 per share to acquire the remaining stake in the company. The freight and logistics major had acquired a majority stake in Blue Dart in 2004 and has since then been trying hard to acquire the residual stake and delist the company. DHL currently holds a little over 81% in Blue Dart through DHL Express Singapore, while institutional investors collectively hold 10.34%. Individual investors have a stake of less than 5%. The institutional investors include fund houses like SBI Mutual Fund and UTI Mutual Fund.

According to sources, talks had initially fallen through in November last year due to differences over the buyback price. DHL finally gave the go-ahead to a price arrived at by the reverse book building process in November last year. Interestingly, DHL had earlier refused to accept this price of Rs 950 per share. The price is at a premium of nearly 44% over Monday’s closing price of Rs 649 on BSE. In the past one month, the stock has gained nearly 45% or Rs 196.30.

Earlier, DHL was insisting on a price of less than Rs 700 per share that was unacceptable to the shareholders. After many deliberations, the promoters decided to accept the discovered price of Rs 950.

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