Tag: Asia

SingTel yet to decide on SingPost listing

Posted by | May 16, 2002 | |

SINGTEL has invited investment bankers to submit proposals on listing its subsidiary Singapore Post (SingPost), among other options, but no decision has yet been made.
In a statement to the Singapore Exchange (SGX), SingTel said that it had, on an ongoing basis, carried out strategic reviews of its subsidiaries.
These included SingPost which is involved in postal, telecom and agency services.
‘There are ongoing discussions with investment bankers on the various options. However, no decision has been made,’ said SingTel.
It said it would make an announcement ‘when appropriate’.

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Hanoi Post Office launches ISDN internet service

Posted by | May 15, 2002 | |

The Post Office in Vietnam on May 15 officially offered a service called 1267-ISDN that allows users to access the Internet via the Integrated Services Digital Network with high data transmission speeds.
The service also enables the use of hi-tech equipment such as video phones, faxes and personal computers.

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Cathay Pacific 'Cautiously optimistic' on outlook

Posted by | May 15, 2002 | |

Cathay Pacific Airways Ltd chairman James Hughes-Hallett said he remains “cautiously optimistic” about the carrier’s prospects over the longer term.
“I think it is already a proven fact that the bottom has been reached and that we are coming out of the bottom,” Hughes-Hallett told reporters after the company’s AGM, highlighting recent passenger and cargo load improvements.
“But I think the question we all have to ask, whether it is in Cathay Pacific or in Hong Kong economy as a whole, is whether those cargo loads simply represent a one off restocking exercise, particularly in the US, or whether they represent a genuine longer term recovery in the US,” Hughes-Hallett said.

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Koizumi Postpones Post Privatization Report

Posted by | May 15, 2002 | |

Prime Minister Junichiro Koizumi told the head of his private advisory panel on postal privatization Tuesday he would not set a specific date for the panel to finalize a report on the issue, which initially had been scheduled to be submitted at the end of June, government officials said. The remarks of the prime minister, who is a strong advocate of the privatization of the three post office services of mail delivery, savings and insurance, effectively instructed the panel to postpone the finalization of its report.

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China Express Dispute to be Resolved on Wednesday

Posted by | May 14, 2002 | |

A regulatory dispute between international express delivery companies and China’s postal monopoly is expected to be resolved Wednesday, the Business Weekly reports, citing an unnamed source at the China International Freight Forwarders Association. Foreign and domestic express delivery companies have been negotiating with China Post over new regulations that require them to stop handling letters and packages weighing less than 500 grams, and register with the government body to continue their other businesses. Those rules are widely seen as an attempt to shield China Post’s own express delivery business, EMS, from competition by the likes of FedEx Corp. (FDX), United Parcel Service Inc. (UPS), DHL Corp. (X.DHL) and TPG N.V. (TP), which now operate in China through local partners.

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