Tag: Asia

LDP sets Sept deadline for Japan postal reforms plan

Posted by | Aug 3, 2004 | |

The Liberal Democratic Party–in a move seen as a switchover from strong skepticism to a more conciliatory outlook toward Prime Minister Junichiro Koizumi’s postal services privatization initiative–decided Monday to draw up its own privatization plans for the services by the end of September.

The move apparently is in line with government plans to work out a draft program on the specifics of privatizing the postal services by the end of September.

Fukushiro Nukaga, chairman of the LDP’s Policy Research Council, said in a program broadcast Monday on NHK, “Our party will launch full-scale discussions (on postal services privatization) in August to single out major problems relevant to the issue, and draw up a framework proposal in September.”

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Govt may order Japan Post to hold JGBs even after privatization

Posted by | Aug 3, 2004 | |

The Japanese government may ask Japan Post to maintain its current government bond holdings until maturity even after it is privatized, the Asahi Shimbun reported, without citing sources. The government is also considering adopting legal measures binding Japan Post to manage JGBs as its main investment instrument, the newspaper said.

The moves are aimed at reducing risks of a collapse in Japanese government bond market, which would affect government funding.

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DHL sees express logistics market share in Asia growing 1-2 pct annually

Posted by | Aug 2, 2004 | |

DHL said it expects its share in Asia Pacific’s express logistics market to grow at a steady rate of 1-2 pct in the next few years, mainly due to its China operations. ‘At the moment, we believe we are taking 1-2 pct market share a year (from our competitors) and we expect that to continue for the next few years,’ said DHL Express Chief Executive Officer for Asia Pacific John Mullen.

Mullen said the company’s share of the Asia Pacific express logistics market currently stands at about 40 pct with FedEX having a 29 pct market share and UPS and TNT Express with 19 pct and 12 pct, respectively.

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Pos M’sia to buy 20% of Transmile for RM253m

Posted by | Jul 28, 2004 | |

POS Malaysia Bhd, the country’s national postal company, said it will buy 20.3 per cent of Transmile Group Bhd for RM253.1 million (SD115 million) in stock and cash to expand its activities and boost earnings. Pos Malaysia, already a client of Transmile, will pay the equivalent of RM6.25 a share for the stake, the company said in a statement to the stock exchange. That’s a 12 per cent discount to the airfreight delivery company’s last traded price.

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SingPost says UK commission revision won’t have big impact on earnings

Posted by | Jul 5, 2004 | |

Singapore Post says the revised commission structures, business reorganization and one-time restructuring cost at a European joint venture are not likely to have a significant impact on SingPost’s overall performance for the current financial year. Previously, SingPost had expected restructuring of the joint venture, called Spring, to cut net profit for this financial year by as much as SD6.5 million. The losses would have largely come from the gradual write-down of its initial start-up cost. But SingPost now says it plans to adopt a new rule proposed by Singapore’s accounting authorities which does not require goodwill to be gradually written down.

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