Tag: Asia

TV Banking Services start

Posted by | Aug 29, 2006 | |

Dacom, Korea¡¯s No. 3 fixedline telecom operator, will launch TV-based banking services today along with Korea Post, the country¡¯s postal service.
Clients of the state-run Korea Post who are subscribed to cable TV through the Korea Digital Media Center (KDMC) can enjoy the on-screen applications.
¡°Our TV banking services will enable TV viewers to access their accounts at Korea Post and transfer funds by remote control,¡± Dacom official Kim Min-soo said.
¡°Customers of KDMC-associated cable TV operators can enjoy the services by replacing their analogue set-top boxes with digital ones,¡± Kim said.
KDMC, the country¡¯s top digital media center, currently has 23 cable TV operators and four million subscribers under its wing across the country, People can check whether or not they are users of KDMC by examining an inscribed logo on their set-top box or monthly billing notice.

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Japan Post to increase Post Offices selling Invest -Kyodo

Posted by | Aug 28, 2006 | |

Japan Post said Monday it will nearly double the number of post offices offering customers investment trusts to 1,155, starting Oct. 2, the Kyodo News Agency reported.

In addition, the government-backed postal services provider will begin enabling holders of accounts for investment trusts to make additional purchases and cancel or alter the type of investment tool via the phone or Internet next year, the news agency said.

Japan Post has described sales of investment trusts as one of the revenue pillars for postal savings banks and over-the-counter service providers at its nationwide offices, which will be created when its 10-year privatization process starts in October 2007, Kyodo said.

At present, nine types of investment trust are available at a total of 605 post offices nationwide. In October, 550 post offices will be added to the list, the Kyodo report said.

Telephone-based purchases of additional investment trusts will be enabled in January, to be followed in May by Net-based marketing of such financial instruments, according to the new agency.
Japan Post envisages posting Y540 billion in investment trust sales during fiscal 2006 through March 31, 2007, Kyodo said

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Red-letter day for privatisation

Posted by | Aug 28, 2006 | |

The grand old department of posts and telegraphs will soon be opening its doors to the private sector. For the first time in its century-old history, the postal department is planning to allow private participation in day-to-day core operations.

According to sources, the first privatisation bid of the department will consist of appointing a network of franchisees in more than a dozen catchment areas.

The idea of privatising parts of postal services was moved for the first time by the ministry of communications and information technology around March last year. Following this, a committee was set up to work out various modalities.

After several rounds of discussions, the ministry is now learnt to be keen on adopting franchising as a model. “The government is looking at franchising as an optimum option to expand access to basic postal facilities without increasing dependence on budgetary resources,” according to an India Post official.

The exact franchising model that the government is considering is not known yet. Sources, however, say the department will tie up with multiple franchisees across the country. This will include all kinds of services that a post office provides, including outsourcing services like address verification of banks, financial intermediaries, telecom companies and Internet cafes.

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Japan Post to double number of post offices selling mutual funds

Posted by | Aug 28, 2006 | |

Tokyo

Japan Post said Monday it will nearly double the number of post offices offering customers investment trusts to 1,155, starting Oct. 2.

In addition, the government-backed postal services provider will begin enabling holders of accounts for investment trusts to make additional purchases and cancel or alter the type of investment tool via the phone or Internet next year.

Japan Post has described sales of investment trusts as one of the revenue pillars for postal savings banks and over-the-counter service providers at its nationwide offices, which will be created when its 10-year privatization process starts in October 2007.

At present, nine types of investment trust are available at a total of 605 post offices nationwide. In October, 550 post offices will be added to the list.

Telephone-based purchases of additional investment trusts will be enabled in January, to be followed in May by Net-based marketing of such financial instruments.

Japan Post envisages posting 540 billion yen in investment trust sales during fiscal 2006 through March 31, 2007.

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JV for Cathay and Air China?

Posted by | Aug 28, 2006 | |

Cathay Pacific and Air China are looking to set up a joint venture cargo airline based in Shanghai.

The proposal is part of several areas of planned co-operation between the two, linked to Cathay’s impending takeover deal of Draqonair, which involves an exchange of shareholdings between Air China and Cathay Pacific.

That deal is expected to be completed within the next few weeks after the shareholders of Air China, Cathay Pacific Airways, China National Aviation Company (CNAC) and CITIC Pacific last week approved the proposed shareholding realignment.
A spokeswoman for Cathay Pacific told IPW that all that remained was for several administrative details to be finalised.
Details of the cargo joint venture and other possible areas of co-operation could be decided only once the broader deal was completed, she said.

“That [cargo joint venture] is just at the concept stage. But it will be a joint venture cargo airline.

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