GROUP CORPORATE DEVELOPMENT: 2010

Aug 19, 2010

Vietnam Dong Slumps to Record Low as Adviser Warns of ‘Shock’

By Bloomberg News

Aug. 19 (Bloomberg) -- Vietnam’s currency dropped for a fourth straight day to a record low after an adviser to the Prime Minister said the country risks a foreign-currency liquidity ‘shock.’

The warning came after the central bank yesterday devalued the currency for a third time in the past year to boost exports and shore up the nation’s trade deficit that has nearly doubled in the seven months through July. The currency has slumped 5.2 percent in 2010, the worst performance among 16 currencies in Asia monitored by Bloomberg. Forwards contracts signal traders are betting on an 8.5 percent drop in the coming year.

BNM - Liberalisation of the Foreign Exchange Administration Rules

Liberalisation of the Foreign Exchange Administration Rules

As part of Bank Negara Malaysia's continued effort to enhance flexibility of the economy, the Bank wishes to announce the further liberalisation of administrative rules on foreign exchange transactions. This aims to promote greater efficiency in the conduct of international trade and a conducive business environment in Malaysia so as to strengthen the linkages with the regional and global economies.

UMW secured contract for Naga 2

UMW secured a contract for Naga 2. Read the research view by Maybank investment.

Sime Darby - Bakun Cost Overrun

Sime Darby: Bakun Cost Overrun Research report by CIMB research. Read it more here.

Sime Darby - Trouble Looming

KUALA LUMPUR, Aug 12: Is Sime Darby heading for another round of trouble after suffering losses topping RM3 billion last year?

Kumpulan Guthrie Berhad, a company now part of the embattled Sime Darby, recently lost a civil suit to Indonesian firm PT Adhiyasa Saranamas in the Indonesian Supreme Court in excess of US$25 million, which has now ballooned to US$41 million.

Economic Update by RHB - 12 August 2010

Global economy: Resilient but slowing economic growth. Click here for details.

Jun 16, 2010

Strong quakes hit off Indonesia's Papua

JAKARTA | www.reuters.com | Wed Jun 16, 2010 12:20am EDT

A series of quakes struck off Indonesia's Papua province on Wednesday within a few minutes of each other, the U.S. Geological Survey (USGS) said, but there were no reports of casualties.

A 6.4 magnitude quake was followed 10 minutes later by a 7.0 magnitude quake, USGS said. A third quake struck a little later, with a magnitude of 6.3.

Indonesia's meteorological agency said the quakes occurred 114 kilometers (70.84 miles) southeast of Biak, in Papua, at a depth of 10 kilometers, and issued a tsunami warning after the second quake.

The National Disaster Mitigation Agency's spokesman, Priyadi Kardono, said there were no reports of casualties from the area. Kardono said he was still awaiting updates after the second quake.

BP said that its Tangguh LNG project in Papua was operating normally and was not affected by the quake.

"According to reports, the quakes were felt strongly in Biak, and with the intensity the quakes could cause cracks on the walls of houses and buildings" said Jaya Murjaya, an official at the meteorological agency.

(Reporting by Olivia Rondonuwu and Muklis Ali; Editing by Sara Webb and Sanjeev Miglani)

15th Asia Oil and Gas Conference in Kuala Lumpur (7-8 June 2010)

· US$80/barrel the new normal

· PM acknowledged oil & gas industry’s significant contribution to the country’s economy… cautioned that the country is not necessarily well past the danger zone and the downside risks in the industry should not be downplayed

· In light of the developments at the Gulf, the industry can expect a fundamental shift in policies and regulations in relation to “green energy”. Oil & gas companies now have to anticipate potential environmental criticism by integrating safe and sustainable development initiatives into their strategies

· Pace of investment remains slow and industry cost remains high

Read analyst report from CIMB Research and Maybank IB research

Highlights of the 10th Malaysia Plan (15 June 2010)

Following are the highlights of Prime Minister Datuk Seri Najib Tun Razak's speech when tabling the Tenth Malaysia Plan (10MP) at the Dewan Rakyat:

* Theme: Towards Economic Prosperity and Social Justice
* The 10MP (2011-2015) is critical for the continuation of the national agenda to realise Vision 2020

Hire purchase interest rates are up by about 0.25%!

June 2, 2010 at 2:11 pm By Paul Tan

According to a report by StarBiz, hire purchase interest rates have gone up by about a quarter of a percent early this week. An EON Bank officer told the StarBiz reporter that hire-purchase loans are now at the following rates:

The previous rates were between 3.25% to 3.5% for non-national cars and between 3.75% to 4% for national cars. These rates are a good 1% higher than that of the rates not too long ago where you could get a loan for a new non-national car for 2.8%. For example, taking a loan from Public Bank for BMW 5 series E39 two years ago for just 3.75% and that’s for a (then) 11 year old non-national European marque. Another case buying the same model of E39 last year and paying nearly 6% of interest!

A 1% hike could cost a user an extra installment amount of between RM50 to RM100 a month, with the upper end not seeming like a significantly amount when you are taking a loan for over RM100,000 and paying over RM1,500 a month although it is still money.

Jun 3, 2010

Malaysia - Subsidy Rationalisation Lab

A research report from Maybank IB research on the rationalization on subsidy removal. Click here to read the report.

Government think tank proposes fuel hikes – 15 sen this year and RON95 to cost RM2.60 by 2015

May 27, 2010

PEMANDU, a government think tank led by Minister in Prime Minister’s Department Idris Jala tasked with formulating proposals to reduce the country’s government subsidy budget has recommended a petrol price hike of 15 sen for RON95 and 10 sen for diesel.

Yuan Eclipsed in Beijing Talks by Europe, North Korea

By Bloomberg News

May 26 (Bloomberg) -- U.S.-China talks set up primarily to head off bilateral disputes focused much of the past two days on threats to global stability, as Europe’s debt crisis and military tension on the Korean peninsula overtook the agenda.

About 200 U.S. officials yesterday wrapped up meetings in Beijing as the euro’s decline to an eight-year low against the yen and a 4.7 percent plunge in the won overshadowed sparring on trade and China’s control of its exchange rate. The external distractions, both financial and geopolitical, prompted talk of closer cooperation between what will likely be the world’s two largest economies by year end.

U.S., China Sidestep Yuan as Europe Dominates Talks

By Bloomberg News | May 25, 2010

May 25 (Bloomberg) -- China and the U.S. focused their first day of talks in Beijing on joint efforts to prop up the world’s economy in the face of a European sovereign-debt crunch that pushed off a showdown on the yuan’s value.

Officials “spent quite a bit of time discussing the European debt crisis,” Chinese central bank Governor Zhou Xiaochuan said at a press briefing. The nation’s currency policy is being “touched upon” at the talks, he said.

Bangkok Burns, CRES imposed a Curfew as at yesterday, Wednesday, 19 May 2010

Four Thai anti-government protest leaders including Natthawut Saikua and Jatuporn Prompan surrendered to police on Wednesday.

Red-shirt leader Jatuporn Prompan announced from the stage at 1.15pm that that he and other leaders would surrender to prevent further losses.

More Images of What Chrome OS will Probably Look Like

Chrome OS — Google’s lightning quick operating system that’s based entirely on the Chrome browser — is due out the second half of this year (check out our report earlier this evening on its progress). We’ve seen some demos of it in action, and even tried out an early version ourselves, but there are still plenty of question marks as far as how people will actually use this thing. After all, while the browser will be able to accomplish most tasks, users are going to want some degree of multitasking, and there’s also the question of how users will be navigating Chrome OS’s basic file structure.

Sime Darby Review by RHB - 14 May 2010

Review from RHB on Sime Darby losses on their Energy & Utilities division. View the report.

Malaysia - National Key Economic Areas 2010 -2020

A must read to have some understanding where and how Malaysia is to grow into a develop nation by 2020. On the macro level, Malaysia must achieve 6% to 6.5% GDP growth every year consistently to achieve high income economy by 2020. Measured in Gross National Income, from current ~USD7,000 (2008) to threshold target of ~USD17,000 (2020). Read the rest of presentation.

EMR - Risk & Threat from Handphones & Avoid Handphone with Kids

Some precautionary measures can be taken in using handphones. Read the rest of presentation.

Chart of the Day - Selected Euro Nations debt positions

May 17 (Bloomberg) -- Germans, who largely opposed their country’s participation in a bailout for Greece, are more indebted than the citizens of the Mediterranean nation they share a currency with.

Fears Intensify That Euro Crisis Could Snowball

May 16, 2010 | by Nelson D. Scwartz and Eric Dash | www.nytimes.com

After a brief respite following the announcement last week of a nearly $1 trillion bailout plan for Europe, fear in the financial markets is building again, this time over worries that the Continent’s biggest banks face strains that will hobble European economies.

Europe’s Debt Crisis Casts a Shadow Over China

May 17 2010 | by Keith Bradsher | www.nytimes.com

HONG KONG — The pain of the European debt crisis is spreading as the plummeting euro makes Chinese companies less competitive in Europe, their largest market, and complicates any move to break the Chinese currency’s peg to the dollar.

PetroChina Takes First Steps to Acquire Scotland’s Oil Refinery

www.businessweek.com | March 07, 2010

March 5 (Bloomberg) -- PetroChina Co., the nation’s biggest energy producer, started taking initial steps in its acquisition of Scotland’s only oil-processing plant that would give the Hong Kong-listed company its first European refining operation.

www.reuters.com | July 3, 2009 3:55pm

The news that Repsol YPF has been approached by Chinese companies seeking to buy or take interests in the majority of its upstream assets is something of a mixed blessing for the Spanish group.

On the one hand, Repsol has been trying for years to extract itself from the horrible mess of Argentine politics that embroils YPF, and the prospect of a well-funded buyer that is not too concerned about short-term returns coming along to pay a good price for the unwanted business seems like a godsend.

CNPC to bid $17 bln for Repsol YPF's Argentinian unit: report

www.reuters.com | July 2 2009

(Reuters) - China National Petroleum Corp. (CNPC), the country's largest oil company, plans to revive a $17 billion bid for the Argentinian unit of Spanish oil major Repsol-YPF, the South China Morning Post reported on Thursday, citing sources.

CNPC, PetroChina eye Latin American oil holdings

www.chinaeconomicreview.com | April 14 2008

China National Petroleum Corp (CNPC) and its listed subsidiary PetroChina have expressed interest in the US$10 billion-worth of South American refineries and upstream assets which may be put up for sale by Spanish oil company Repsol YPF, the South China Morning Post reported. PetroChina and its state-owned parent, which operate an equal joint venture for overseas acquisitions called CNPC Exploration, have not said whether contact has been made with Repsol. But sources close to the matter say the current US$10 billion sale is a modified version of a US$20 billion deal that CNPC Exploration tried to arrange on two occasions last year, only to see Repsol back out. Repsol, the world's fifth-largest oil and gas company, owns three refineries in Peru and Brazil , has oil and gas development rights in eight South American countries and also distributes natural gas in the region.

May 14, 2010

Malaysia Raises Rate as Faster Growth Eclipses Europe Threat

www.bloomberg.com | By Shamim Adam and Ranjeetha Pakiam

May 14 (Bloomberg) -- Malaysia’s central bank raised interest rates for the second time this year as growth accelerated, judging that risks stemming from low borrowing costs are greater than any impact from Europe’s debt crisis.

Bank Negara Malaysia increased its benchmark overnight policy rate to 2.5 percent from 2.25 percent, it said in Kuala Lumpur yesterday, a decision that was predicted by 21 of 22 economists surveyed by Bloomberg News. Gross domestic product increased 10.1 percent in the three months ended March 31 from a year earlier, the most in a decade, a separate report showed.

Asian central banks are pulling back monetary stimulus as the region’s growth outpaces the rest of the world. Malaysia will be able to absorb increased volatility in its markets as a result of the turmoil in Europe, and has the “policy flexibility” to act should global conditions worsen, Bank Negara Governor Zeti Akhtar Aziz said yesterday.

Semisub Sinks Offshore Venezuela

by Rigzone Staff | Thursday, May 13, 2010

Aban Pearl

The Aban Pearl semisubmersible rig sank off the Venezuelan coast near Trinidad and Tobago at approximately 2:20 a.m. local time Thursday, Dow Jones Newswires reported citing a "tweet" from President Hugo Chavez' Twitter account.

According to Rigzone sources, two people may have died in the incident. Venezuelan officials, however, reported that all 95 workers aboard the rig were safely evacuated. In addition, they contend the incident poses no threat to the environment.

Sime Darby - RM964m provision for E&U (16sen per share) bigger than expected and change in management

www.klse.com.my (announcement) | 13.05.2010

SIME DARBY ADDRESSING CHALLENGES IN ITS ENERGY & UTILITIES DIVISION

The Board of Directors of Sime Darby Berhad would like to state that in October 2009 it established a Board Work Group to review the operations of its Energy & Utilities Division (the “Division”). The purpose of the Work Group was to assess the corporate governance and performance of the Division, following its results in FY2009. The Work Group consists of Datuk Seri Panglima Andrew Sheng Len Tao (Chairman), Tan Sri Wan Mohd Zahid Mohd Noordin and Datin Paduka Zaitoon Dato’ Othman. The Work Group has been advised by independent lawyers and accountants.

962 confirmed cases of HFMD with several deaths reported in Kunming

By : Kunming | Updated: 2010-05-11

The number of confirmed cases of hand, foot and mouth disease (HFMD) cases in Kunming has been increasing recently. Up to May 2, there are 962 confirmed cases have been reported merely in Kunming Children's Hospital, and severe cases have increased markedly.

EU Crafts $962 Billion Show of Force to Halt Crisis

www.bloomberg.com | By James G. Neuger and Meera Louis

May 10 (Bloomberg) -- European policy makers unveiled an unprecedented loan package worth nearly $1 trillion and a program of securities purchases as they spearheaded a drive to stop a sovereign-debt crisis that threatened to shatter confidence in the euro.

Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, governments of the 16 euro nations agreed to make loans of as much as 750 billion euros ($962 billion) available to countries under attack from speculators.

Inflation Fears May Slow Malaysia Subsidy Cuts, Economists Say

www.bloomberg.com | By Barry Porter

May 10 (Bloomberg) -- Malaysia may cut subsidies slowly to prevent triggering record inflation as it prepares to revamp a system that’s hampered efforts to reduce the budget deficit, Standard Chartered Plc and Citigroup Inc. said.

A taskforce is exploring ways to revamp the government’s entire portfolio of subsidies that keep the cost of essential items from flour to highway tolls low for consumers. An attempt to reduce the amount the state pays to cap fuel prices caused inflation to surge to a 26-year high in 2008 as gasoline became more expensive.

The government will learn from past experience and ensure its subsidy cuts will be a “very tempered, gradual process,” Alvin Liew, an economist at Standard Chartered in Singapore, said May 7. “They still have time on their hands. It’s not a Greek situation where they need a bailout, not yet anyway.”

G-7 to Confer on Greece as Stocks Fall on Contagion

www.bloomberg.com | By Mayumi Otsuma and Kyoko Shimodoi

May 7 (Bloomberg) -- The Group of Seven plans to hold a conference call today to discuss the Greek debt crisis, according to Japanese Finance Minister Naoto Kan, after a global stock rout sparked by concern debt woes are spreading.

Greek Riots Threaten to Scare Tourists Key to Economy

www.bloomberg.com | By Armorel Kenna, Natalie Weeks and Mary Childs

May 6 (Bloomberg) -- The protests and riots in Athens threaten to undermine tourism, one of Greece’s few growth industries and the country’s best hope of easing the pain of its unprecedented austerity program.

“People will think twice about going to Greece,” said Ian Gamse, a director at London-based Otus & Co., which advises Marriott International Inc. and Hilton Worldwide. “People who have booked are going to start calling their tour operators. If Greece can’t get the situation under control, it is going to be a big problem.”

Situasi Semasa Influenza A (H1N1) 29 April 2010

Malaysian news

Sehingga jam 8:00 pagi pada 29 April 2010,
· Kementerian telah menerima sejumlah tiga (3) laporan kejadian kluster ILI daripada dua (2) buah negeri.

Monetary Conditions To Be Normalised At A Measured Pace And The Ringgit Will Likely Fluctuate At RM3.20-3.30/US$

◆ Countries across the Asia Pacific have stepped up their efforts to normalise their monetary conditions. The normalisation of monetary conditions, in our view, aims to prevent asset prices and financial imbalances from building up in some countries and to address rising inflationary pressures in others.

Europe approves giant Greece bailout

http://news.yahoo.com | Sun May 2, 5:23 pm ET

BRUSSELS (AFP) – European governments Sunday endorsed an unprecedented 110-billion-euro bailout to save Greece from bankruptcy and shore up the single currency after Athens agreed to draconian spending cuts.

The first installment of the eurozone-IMF rescue package will be paid within the next few weeks, with the rest spread over three years and conditional on a swathe of painful cuts and tax rises in Greece, they said.

AFP – A man passes by a shop window in downtown Athens. European governments Sunday endorsed an unprecedented bail out.

New GF-5 Vehicle Lubricant Standard Approved

Written by Bob Chabot | www.nastfenews.org | Saturday, 13 February 2010 11:13

CARCHITECTURE
New GF-5 Vehicle Lubricant Standard Approved

GF-5, a new oil standard developed by the International Lubricant Standardization and Approval Committee (ILSAC), received final approval on December 22, 2009. The approval paves the way for the Oct. 1, 2010, introduction of new lubricants for gasoline- and diesel-powered automobiles, at both the OEM factory-fill and aftermarket servicing levels.

Years Back in Oct 2004: GF-5 Engine Oils What, When, How?

lubereport.com by David Mcfall | Wednesday, October 13, 2004

Meeting in Detroit last week, ILSAC/Oil, the inter-industry committee responsible for gasoline engine oil upgrades, kicked off planning for the next one, GF-5. Although this new engine oil isn't scheduled to enter commercial service until 2009, three dozen technical specialists representing auto manufacturers, engine oil marketers, independent test laboratories and chemical additive companies assembled for the first in a series of meetings that will extend over the next few years.

UMW reviving plans to list O&G business

Business Times | Tuesday, April 27, 2010, 10.53 AM

An executive director at UMW Corp says it is possible that the listing might happen this year or early next year

A Successful Restructuring in Greece May Leave a Weaker Europe Economy

Wall Street Journal | Monday, April 26, 2010 As of 10:17 AM (GMT +8 hours)

It matters little in the long run whether Greece's euroland colleagues and the International Monetary Fund agree to the requested €45 billion bailout— €30 billion from the euro-zone countries, €15 billion from the IMF. Even if the deal gets done, the bailers will have only applied a Band-Aid to a hemorrhage.

IMF Managing Director Dominique Strauss-Kahn (right) with Nicolas Sarkozy.

Europe flights back to '100 percent'

By the CNN Wire Staff | April 22, 2010 -- Updated 1242 GMT (2042 HKT)

London, England (CNN) -- Flights across Europe are expected to return to "100 percent" on Thursday -- seven days after ash from an Icelandic volcano forced the shutdown of airspace and stranded thousands of passengers around the world, the air traffic agency Eurocontrol said.

Threat of new, larger Icelandic eruption looms

AP – A plume of ash, dust and steam is seen coming from a volcano erupting beneath Iceland's Eyjafjallajokull.

By CARLO PIOVANO, Associated Press Writer Carlo Piovano | Associated Press Writer – Tue Apr 20, 1:44 pm ET

REYKJAVIK, Iceland – For all the worldwide chaos that Iceland's volcano has already created, it may just be the opening act.

Scientists fear tremors at the Eyjafjallajokull (ay-yah-FYAH-lah-yer-kuhl) volcano could trigger an even more dangerous eruption at the nearby Katla volcano — creating a worst-case scenario for the airline industry and travelers around the globe.

Volcano's grip on Europe's airspace expected for 3rd straight day

By the CNN Wire Staff | April 18, 2010 -- Updated 0311 GMT (1111 HKT)

London, England (CNN) -- An ash cloud from an Icelandic volcano was projected to snarl international travel for a third straight day, as flight cancellations and airspace restrictions stretched into Sunday.

British Airways canceled flights to and from London airports on Sunday, and the United Kingdom's air traffic agency extended restrictions on U.K.-controlled airspace until at least 7 p.m. Sunday (2 p.m. ET).

Thousands of flights were canceled Saturday. European air traffic officials said 5,000 flights took place instead of the customary number of 22,000. About 10,400 flights took place in Europe on Friday, compared with the normal 28,000.

World-class East Africa Oil Exploration Play

Oil & Gas history and development information in East Africa.

Mar 25, 2010

Who owns Africa's oil?

Written by Nicholas Norbrook
Monday, 01 February 2010 00:00

Major oil exporting countries like Angola and Algeria are trying out new, smarter versions of resource nationalism as Nigeria’s petroleum industry reforms are delayed and new West and Central African producers tackle the task of shaping new oil and gas industries.

Komatsu Hybrid Excavator Exceeds Expectations

Source: Komatsu
Publication date: March 16, 2010

Late in 2009, Komatsu America introduced the first of ten Hybrid PC200LC-8 excavators into the U.S. market to test the innovative equipment that was designed to reduce environmental impact by saving fuel and reducing green house emissions.

Greece:Announcement on new economic and fiscal measures

The Greek Government announced a package of additional measures designed to safeguard the targets of the Stability and Growth Programme against macroeconomic and financial risks.

Budget cuts give Greece a break

David Smith, Economics Editor March 7, 2010 | http://business.timesonline.co.uk

The country's Euro 4.8 billion austerity package announced by George Papandreou been welcomed abroad but not at home.

For George Papandreou, the Greek prime minister, last week brought the first real signs of relief in a crisis that has dominated his short time in office. His €4.8 billion (£4.3 billion) austerity package, announced on Wednesday, was favourably received in the markets.

A €5 billion, 10-year bond issue on Thursday was three times oversubscribed, lending support to the view that, while the markets are determined to extract higher interest rates for taking on Greek official debt, the danger of default is not seen as so high as to make them avoid it at all costs.

Some 400 institutions bid a total of €16 billion for the €5 billion of bonds in an offering jointly led by Barclays Capital. Nearly 80% of the bonds were bought by non-Greek investors.

Greek PM sounds alarm, eyes tough new fiscal steps

Tue Mar 2, 2010 1:31pm EST | www.businessweek.com

ATHENS (Reuters) - Prime Minister George Papandreou painted a grim picture of the Greek economy in a speech to parliament on Tuesday, preparing the nation for new austerity measures needed to avert default and a broader euro zone crisis.

Repsol Profits Drop 48% On Weak Refining Results

FEBRUARY 25, 2010, 11:56 A.M. ET | http://online.wsj.com

By Bernd Radowitz

Of DOW JONES NEWSWIRES

MADRID (Dow Jones)--Spanish oil firm Repsol YPF SA (REP) Thursday said its profit, excluding inventory effects, plunged 48% in the fourth quarter as its refined products sales fell while Spanish refining margins flattened.

Euro Declines for Third Month as Debt Crisis in Greece Persists

February 27, 2010, 1:07 AM EST | www.businessweek.com

By Inyoung Hwang and Ben Levisohn

Feb. 27 (Bloomberg) -- The euro fell for a third straight month against the dollar, its longest losing streak since November 2008, as Greece’s debt woes weighed on the region’s economic outlook.

Four Biggest Greek Banks Downgraded

FEBRUARY 23, 2010, 8:18 P.M. ET | http://online.wsj.com

Greece's financial instability is spreading to its private-sector banks, the latest indication that the country's credit woes are worsening.

China Politburo Signals No Policy ‘U-turn,’ Merrill Lynch Says

February 22, 2010, 09:34 PM EST

Feb. 23 (Bloomberg) -- China may refrain from interest- rate increases until the fourth quarter after the Communist Party’s Politburo reiterated a “moderately loose” monetary policy, Bank of America-Merrill Lynch said.

Asia shares jump, euro firms on Greece report

22 Feb 2010, 1354 hrs IST, REUTERS

HONG KONG: Asian stocks leapt to their highest in nearly a month on Monday as risk appetite improved on talk of a quick bailout for Greece and as investors looked past the Federal Reserve's discount rate hike to signs of strength in the US economy.

Toyota Forecasts Profit in Face of Recall Crisis

By Makiko Kitamura and Tetsuya Komatsu | www.bloomberg.com

Feb. 4 (Bloomberg) -- Toyota Motor Corp., the world’s largest carmaker, forecast a return to profit this fiscal year as it predicts a 51 percent surge in North American sales this quarter even as the company faces its worst-ever recall crisis.

Automakers zoom on the fast lane in January - India

Record highest ever monthly sales.

Our Bureau
Mumbai, Feb. 1

January 2010 marks a milestone in the automotive journey of the country with Maruti Suzuki, Tata Motors, Mahindra & Mahindra and General Motors India reporting their highest ever monthly sales.

Friday, January 29, 2010 | www.theautoindustrieblog.com

I was away for a week, snorkeling in islands off the Indian Ocean, unplugged from everything, and came back to find my RSS feeds filled with Toyota recall related news.

Bank of China, Construction Bank Start Curbing Credit

By Bloomberg News

Jan. 26 (Bloomberg) -- Chinese banks have begun restricting new loans, responding to a push by regulators to contain credit after a surge in lending in the first half of this month.

Bank of China Ltd. has stopped extending new corporate loans in the Shanghai area, except for clients who have repaid earlier borrowings, said a person familiar with the matter who declined to be identified. China Construction Bank Corp.’s branch in the city has been told to screen applications for personal loans and mortgages more carefully and to stop new lending once a monthly quota is met, another person said.

Thailand - Three Scenarios For The Next Decade

BMI View: Thailand's political situation will remain highly volatile and it is difficult to envision political stability over the next few years. In the event of prolonged social unrest, we do not preclude another military coup occurring, although this would by no means resolve matters.

Myanmar - Easing Of Sanctions In View As Regime Signals Release Of Suu Kyi

BMI View: We see an increased possibility of an easing of sanctions by the US following the holding of elections, most likely in H210, and the potential release of pro-democracy activist Aung San Suu Kyi after the polls. While an easing may be opposed by European capitals, we believe Washington will seek to continue its policy of engaging the regime and thus reduce China's growing influence.

Power, Redesigned: Innovative Folding Power Plug Design

FACTBOX - Repsol's boardroom conflict

By Andres Gonzalez and Clara Vilar (www.reuters.com)

MADRID, Jan 19 (Reuters) - Repsol (REP.MC)'s cash-hungry core shareholder Sacyr's (SVO.MC) desire for a more dividend-friendly chairman at the oil company has divided Repsol's board and called into question the future management of the company.

SCENARIOS - Possible upshots of Repsol's boardroom spat

By Carlos Ruano and Andres Gonzalez (www.reuters.com)

MADRID, Jan 19 (Reuters) - Cash-hungry Spanish oil company Repsol (REP.MC) shareholder Sacyr's (SVO.MC) desire for a more dividend-friendly chairman at the oil company has greater implications than a mere boardroom reshuffle.

Spain offers to mediate in Repsol-Sacyr conflict

7:25am EST (www.reuters.com)

* Minister offers to mediate between Sacyr and Repsol board
* Spain worried about damage to Repsol's reputation
* Sacyr was absent for chairman's vote of confidence on Fri

Sacyr ignores the council convened in support of Repsol Brufau

SANTIAGO CARCER - Madrid -- 16/01/2010 (http://www.elpais.com)

The three directors of Sacyr Vallehermoso group Repsol YPF, Luis del Rivero, Juan Abello and Jose Manuel Loureda, yesterday ignored the extraordinary meeting of council convened on Wednesday by the president of the oil, Antonio Brufau, to seek the explicit support of management and their dependents. It was the great absence of a call in which Brufau got what he wanted in the short term: the unanimous backing of the rest of the council for its management and ratification in office.

Repsol to keep boss, long-term strategy

Fri, Jan 15 2010 | By Carlos Ruano

* Board ratifies Brufau, strategic plan

* Rejects any actions to destabilise management

* Shareholder Sacyr did not attend board meeting

* Repsol shares close down 1.58 pct (Adds minister's quote, paragraphs 8 and 9)

Brufau will have the support of the Council without closing the crisis

The Board of Directors of Repsol will ratify and confirm in his position as President to Antonio Brufau, who with this objective urgently convened the meeting.

Repsol chief heads for showdown with critic

By Mark Mulligan

Published: January 14 2010 02:00 | Last updated: January 14 2010 02:00

After months of speculation, Antonio Brufau, executive chairman of Spanish oil and gas group Repsol, will tomorrow be forced to defend his job against one of his fiercest critics. Luis del Rivero, chairman of construction and property company Sacyr Vallehermoso, wants to unseat the oil boss as the first step in a plan to carve up the group and sell part of it to focus on the domestic refining operations.

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Jan 12, 2010

Hybrids make push into heavy equipment sector

January 8, 2010

Construction Corner | Korky Koroluk

It took a decade of research and development, but the first diesel-electric bulldozer has been delivered to a customer — and he loves it. It will, he says, save his company money.

Samsung presents world's first and largest transparent OLED laptop at CES

samsung prototype 14 inch notebook_01
We have already seen some of the most interesting transparent gadgetsin the past, but the latest laptop concept by Samsung, showcased at the CES 2010, will definitely take you by surprise with its immaculate transparency. Featuring 14-inch OLED display, which when turned off becomes up to 40 percent transparent, the laptop concept is claimed to be the world’s first and largest transparent OLED laptop.

Contrarian Investor Sees Economic Crash in China

by David Barboza
Friday, January 8, 2010

provided by the New York Times

James S. Chanos built one of the largest fortunes on Wall Street by foreseeing the collapse of Enron and other highflying companies whose stories were too good to be true.

Now Mr. Chanos, a wealthy hedge fund investor, is working to bust the myth of the biggest conglomerate of all: China Inc.

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Jan 7, 2010

Panasonic’s new home battery could store a week’s-worth of electricity

December 24, 2009 | Camille Ricketts

Panasonic is charging into the green space headlong — first with deals to supply batteries for electric and hybrid vehicles — and now announcing that it will launch a massive lithium-ion storage battery capable of powering an average home for up to a week, the company says.

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DRB-HICOM in Talks to Manufacture Hybrid Vehicles

Dec 31, 2009 | Source: thestar

DRB-HICOM Bhd is in talks with potential partners to manufacture hybrid/electric vehicles in Malaysia, with the company expecting to “finalise something” by next year, a senior company official said.

HOLLAND — Resumes are pouring into Johnson Controls Inc. for what will be the site of its largest plant to produce lithium-ion batteries for electric cars.

Along with applications, the small staff at the Holland plant has been deluged with e-mails and calls from those trying to help cousins, friends and neighbors get a foot in the door.

“Everywhere I go, somebody says, ’I need to talk to you,’” plant manager Elizabeth Rolinski said last week in her first Press interview on the project.

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Countdown to Catastrophe

from BizarroBlog by Piraro

Bizarro is brought to you today by The End Of The World.

A lot of people wrote to "high five" me about this cartoon. It seems there is no shortage of folks annoyed by the gullibility of their family and friends regarding this latest threat to our survival. We humans are always looking for secret clues to the ultimate catastrophic ending, as though the universe were controlled by Dan Brown.

But it is an irresistible part of our nature as apes with huge, mutant brains: we take our natural instincts to spot patterns and guard against injury, and extend them to ludicrous degrees. My apologies to those readers who don't like hearing this, but in my opinion it is the very reason humans have always invented gods to explain the things we don't understand or can't comprehend. We live in a world with natural rules and order and when the facts of our existence fall outside of our understanding, a make-believe answer is more comforting than no answer at all. Most of us need to know that there is a Purpose to our existence and a destination beyond death.

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