Astra sells chip factory to U.S. group
Article Abstract:
PT Astra International, the Indonesia's leading auto assembler, has sold its microprocessor plant on Batam Island, near Singapore, to Newbridge Asia, a US-based investor group, for $90 million. Astra sold the plant, PT Astra Microtronics Technology, in line with its earlier announcement that it would sell some noncore operations. The sale is expected to lessen the company's debt load, which totals $2 billion in foreign debts and two trillion rupiah ($172 million) in domestic debts. Revenue at the plant has grown at an annual rate of 30% during the past three years, said Newbridge Asia.
Comment:
Buys PT Astra Intnl's microprocessor plant on Batam Island, near Singapore, for $90 million
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Greek bank to join big board soon
Article Abstract:
The National Bank of Greece SA announced that it is planning to starting trading American depositary receipts on the New York Stock Exchange. The bank is planning to start trading the receipts in the latter half of October 1999. Up to four million shares will be offered for sale in the US and in Greece. The shares will be offered through a public subscription at 1,450 drachmas (4.41 euros) per share.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Brandes is told to cut DBS Bank stake
Article Abstract:
The government of Singapore ordered Brandes Investment Partners of the US to reduce its 7.1% stake in DBS Bank to 5% because Singapore banking law decrees that ownership of more than 5% of any bank must gain prior government approval. Shares of DBS investor DBS Group Holdings Ltd could be effected.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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