New goals listed in the five-year plan include:
1. Improving the social welfare and livelihood of the people
2. Boosting domestic consumption to accelerate economic restructuring away from its traditional export-oriented focus
3. Narrowing the differences between the western and coastal parts of China.
4. Improving energy efficiency and environmental protection
5. Developing seven strategic key industries, with the aim of increasing their GDP contributions from the 2 per cent of GDP now to 8 per cent by 2015 and 15 per cent by 2020
The focus areas of the 12th five-year plan have presented a wide range of rewarding investment opportunities for investors, who can consider unit trust funds with niche exposures to specific sectors. For example, the household-centric goals mean that funds with exposure to stocks that thrive on consumption spending growth in Asia, such as the United Asia Consumer Fund, will still do well due to supportive government policies, minimum wage increases and improved social welfare.
Other sectors that could potentially benefit are the material and industrial sectors, thanks to the accelerated roll-out of social housing projects. Low-cost social housing has become a political priority, as it is seen as a key solution to cool off soaring property prices in tier-one cities, a potential economic and social time-bomb.
7 STRATEGIC SECTORS
China is also shifting its focus and resources to seven strategic industries that have been identified to tackle unfavourable demographics, raise productivity, develop home-grown technology and move its industries up the value chain. They are:
1. New energy: Developing clean or alternative energy from nuclear, wind, solar and bio-fuel sources
2. Energy conservation and environmental protection
3. New materials: Rare earth, alloys, membranes, high-end semiconductors
4. Biotechnology: Drug and vaccine development, advanced medical equipment, biomedical research and development
5. New IT generation: Broadband and mobile communication networks, Internet security infrastructure and artificial intelligence
6. High-end equipment manufacturing: Aerospace, telecom and railway equipment and marine equipment
7. New Energy vehicles: Electric cars, plug-in hybrid cars
Wednesday, October 27, 2010
Tuesday, October 26, 2010
Michelin Q3 sales rise 23.8 pct to 4.648 billion euros
PARIS, Oct 26 (Reuters) - French tyre maker Michelin (MICP.PA) confirmed its full-year targets with confidence on Tuesday, saying growth was faster than it expected at the start of 2010 in all tyre markets in the first nine months.
Michelin said the North American and European tyre markets -- especiallyRussia -- were recovering after the auto industry crisis, while the Chinese market was growing strongly thanks to government incentives.
Monday, October 25, 2010
Sunday, October 24, 2010
Anwell Technologies Ltd (“Anwell” or “Group”) announced that its wholly owned subsidiary, China Bright International Enterprises Limited, has initiated discussions with a local government in China to set up a second thin film solar panel manufacturing base. The discussions involve arranging for project financing by the local government to support the initial investment. The Group will make further announcements on the subject upon execution of the relevant definitive agreement.
Saturday, October 23, 2010
Conti AG to invest more than 500 mln eur in tyres
Oct 23 (Reuters) - German automotive supplier Continental AG (CONG.DE) plans to invest significantly more than 500 million euros ($695.7 million) in new tyre plants, the company's chief executive was quoted as saying.
"We should have invested more in tyres in the past five years, we are catching up on that now," Elmar Degenhart told German weekly Frankfurter Allgemeine Sonntagszeitung, according to an excerpt of an interview to be published on Sunday.
"We are doubling capacity in Brazil, and China is starting up next year. We are also discussing a cooperation in India and are considering our own production in Russia."
The newspaper did not say over what period Conti planned to make the investment.
Degenhart also made optimistic comments about the company's 2010 outlook, according to the newspaper. It raised its top-line outlook in July, saying it sees full-year sales growing by about 15 percent.
"That figure is certainly conservative," the paper cited Degenhart as saying. Conti is due to report third-quarter financial results on Nov. 3. (Reporting by Maria Sheahan; editing by Patrick Graham)
"We should have invested more in tyres in the past five years, we are catching up on that now," Elmar Degenhart told German weekly Frankfurter Allgemeine Sonntagszeitung, according to an excerpt of an interview to be published on Sunday.
"We are doubling capacity in Brazil, and China is starting up next year. We are also discussing a cooperation in India and are considering our own production in Russia."
The newspaper did not say over what period Conti planned to make the investment.
Degenhart also made optimistic comments about the company's 2010 outlook, according to the newspaper. It raised its top-line outlook in July, saying it sees full-year sales growing by about 15 percent.
"That figure is certainly conservative," the paper cited Degenhart as saying. Conti is due to report third-quarter financial results on Nov. 3. (Reporting by Maria Sheahan; editing by Patrick Graham)
Bridgestone tyres sets ambitious earnings goal
Bridgestone tyres is forecasting a massive growth in sales thanks to an increase in demand from developing countries across the globe.
The Japanese tyres manufacturer claims that it may see sales increase to $43 billion by 2012 thanks to demand growth in China, India and Brazil.
Such a dramatic rise in sales could result in an operating profit of $3.44 billion in 2012, up 8% from its anticipated 2010 profit line, according to Bridgestone.
The company told analysts that it expects it tyre sales to grow 40% by 2015 from 2009, while industry-wide demand is expected to increase 15%.
It forecasts tyre sales in China to rise 140% from 2009 results by 2015, and by 80% in India and 60% in Brazil.
The tyre manufacturer also announced it will spend $296 million to boost capacity for giant OTR tires. The expansion projects at its Japanese plants in Fukuoka and Saga are scheduled to be completed in the second half of 2013.
The capacity increase will boost output at the Fukuoka plant to 130 tons from 30 tons currently.
In addition, Bridgestone is spending 2 billion yen to expand capacity at its steel cord plant in Japan
The Japanese tyres manufacturer claims that it may see sales increase to $43 billion by 2012 thanks to demand growth in China, India and Brazil.
Such a dramatic rise in sales could result in an operating profit of $3.44 billion in 2012, up 8% from its anticipated 2010 profit line, according to Bridgestone.
The company told analysts that it expects it tyre sales to grow 40% by 2015 from 2009, while industry-wide demand is expected to increase 15%.
It forecasts tyre sales in China to rise 140% from 2009 results by 2015, and by 80% in India and 60% in Brazil.
The tyre manufacturer also announced it will spend $296 million to boost capacity for giant OTR tires. The expansion projects at its Japanese plants in Fukuoka and Saga are scheduled to be completed in the second half of 2013.
The capacity increase will boost output at the Fukuoka plant to 130 tons from 30 tons currently.
In addition, Bridgestone is spending 2 billion yen to expand capacity at its steel cord plant in Japan
Thumb Drive
Even so, he’s already begun thinking about
his next invention. Ever motivated by how he
was swindled of fame and fortune all those years
ago, Tan is now dreaming up a killer for the
USB flash drive. He gives The Edge Singapore
a peek at what he plans: It looks nothing like
a flash drive and in fact the product is hardly
discernible. Tan promises that it will be something
impressive, saying: “This is set to take
the ThumbDrive industry by storm.”
his next invention. Ever motivated by how he
was swindled of fame and fortune all those years
ago, Tan is now dreaming up a killer for the
USB flash drive. He gives The Edge Singapore
a peek at what he plans: It looks nothing like
a flash drive and in fact the product is hardly
discernible. Tan promises that it will be something
impressive, saying: “This is set to take
the ThumbDrive industry by storm.”
Flucard
Will the card be the hit DMG expects
it to be? Tan certainly thinks so.
“This FluCard is going to be an SD
card killer, the way the ThumbDrive
was a floppy-disk killer,” he says. In
2009, Tan says, some 230 million SD
cards were sold. “And this is projected
to grow continuously.” That means
a huge potential market for Trek, if
consumers are willing to make the
switch to the FluCard. Right now,
Tan is working on getting the price
of the FluCard down so that it is on
a par with the SD card.
-Henn Tan
it to be? Tan certainly thinks so.
“This FluCard is going to be an SD
card killer, the way the ThumbDrive
was a floppy-disk killer,” he says. In
2009, Tan says, some 230 million SD
cards were sold. “And this is projected
to grow continuously.” That means
a huge potential market for Trek, if
consumers are willing to make the
switch to the FluCard. Right now,
Tan is working on getting the price
of the FluCard down so that it is on
a par with the SD card.
-Henn Tan
Friday, October 22, 2010
China: Auto parts makers H1 net profit margin higher than automakers
More than 60 Shanghai-, Shenzhen- and Hong Kong-listed auto parts companies in China announced Thursday their half-year financial results which showed that the average net profit margin of all the listed Chinese auto parts makers increased to about 7% in the first six months of this year, the Beijing Times reported Friday.
According to statistics from Gasgoo.com, 23 major auto-making companies in China reported average net profit margin of 5.46% in the first half, losing to the domestic auto parts companies.
An industry analyst said due to vehicles in short supply in the first half, China's auto parts suppliers speeded up the pace that in the meanwhile led prices to rise on auto parts.
According to statistics from Gasgoo.com, 23 major auto-making companies in China reported average net profit margin of 5.46% in the first half, losing to the domestic auto parts companies.
An industry analyst said due to vehicles in short supply in the first half, China's auto parts suppliers speeded up the pace that in the meanwhile led prices to rise on auto parts.
Thursday, October 21, 2010
UMS Holdings
-cash $11m
-CA $64m FA $142m CL $29m FL $8m
-NAV 49 cts
-shares 354m
-seeking dual listing at KOSDAQ
-NP 25%
- Div 1 to 2 cts. Div yield about 4% (2/50)
-semicon picking up
-CA $64m FA $142m CL $29m FL $8m
-NAV 49 cts
-shares 354m
-seeking dual listing at KOSDAQ
-NP 25%
- Div 1 to 2 cts. Div yield about 4% (2/50)
-semicon picking up
Wednesday, October 20, 2010
Made-in-S’pore mini-videocam may pose security issues
SMALL is the way to go and the latest product to capture attention is the i-Ball, a nifty made-in-Singapore video camera, which is only as wide as a 50-cent coin.
Going on sale today, it makes filming much easier and more imperceptible.
Its size and features could lend the device extremely well to meeting various lifestyle and security needs, although it has sparked concerns about its potential for abuse.
The 50g product is made by home-grown company Trek 2000, which invented the thumbdrive in 1999.
The 2-megapixel video camera, which costs $119, can wirelessly stream live videos it records, with audio, to a computer or smartphone at a distance of up to 20m away.
As many as seven computers or phones can be connected to one i-Ball to receive video signals from it.
It has battery life of 11/2 hours and supports only video recording on computers, for now. There are plans to release iPhone, Symbian and Windows Phone 7 video-recording apps.
Mr James Aruldoss, president of the Association of Certified Security Agencies, said that if the i-Ball really works, "I can see a lot of social and privacy issues with it, but there could be positive security spin-offs".
Mr James Loh, owner of private investigations firm SG Investigators, also saw the benefits of the i-Ball but cautioned that it could be misused, as it can record videos from a distance and can be easily concealed.
Instead, he sees it as a fun and portable gizmo for youth and young adults to take videos without needing line of sight of what they wish to record.
Furthermore, he believes the i-Ball can be very handy as a security tool. He said several security firms have approached Trek 2000 to evaluate how the gadget could complement their security surveillance work.
Mr Loh of SG Investigators, who also has eight years of security experience, said the i-Ball can be useful for private investigators in garnering audio-visual evidence.
Also, if it could function continuously by plugging to a power supply, the device could be a boon to a security guard who can scan several more areas. "It saves on manpower," he said.
mypaper
Going on sale today, it makes filming much easier and more imperceptible.
Its size and features could lend the device extremely well to meeting various lifestyle and security needs, although it has sparked concerns about its potential for abuse.
The 50g product is made by home-grown company Trek 2000, which invented the thumbdrive in 1999.
The 2-megapixel video camera, which costs $119, can wirelessly stream live videos it records, with audio, to a computer or smartphone at a distance of up to 20m away.
As many as seven computers or phones can be connected to one i-Ball to receive video signals from it.
It has battery life of 11/2 hours and supports only video recording on computers, for now. There are plans to release iPhone, Symbian and Windows Phone 7 video-recording apps.
Mr James Aruldoss, president of the Association of Certified Security Agencies, said that if the i-Ball really works, "I can see a lot of social and privacy issues with it, but there could be positive security spin-offs".
Mr James Loh, owner of private investigations firm SG Investigators, also saw the benefits of the i-Ball but cautioned that it could be misused, as it can record videos from a distance and can be easily concealed.
Instead, he sees it as a fun and portable gizmo for youth and young adults to take videos without needing line of sight of what they wish to record.
Furthermore, he believes the i-Ball can be very handy as a security tool. He said several security firms have approached Trek 2000 to evaluate how the gadget could complement their security surveillance work.
Mr Loh of SG Investigators, who also has eight years of security experience, said the i-Ball can be useful for private investigators in garnering audio-visual evidence.
Also, if it could function continuously by plugging to a power supply, the device could be a boon to a security guard who can scan several more areas. "It saves on manpower," he said.
mypaper
Tuesday, October 19, 2010
Latest Pirelli Figures Show Tyre Market Was Strong in 3Q 2010
Pirelli’s latest “Tyre Market Watch” figures show that first half 2010 passenger car tyre volumes increased by approximately 20 per cent. Third quarter volumes are said to have remained strongly in the double digit growth range, but moving at roughly half the pace of the first half at +10 per cent. Truck tyre volumes were said to have been much stronger growing at +20 per cent and +25 per cent respectively
Trek 2000 launches world’s smallest portable Wi-Fi remote camera
Trek 2000 International, the inventor of the ThumbDrive and FluCard, officially unveiled its latest product, the i-Ball, today. According to Trek 2000, it is the world’s smallest portable Wi-Fi remote camera, targeted at mass-market consumers.
Roughly the size of a 50-cent coin, the i- Ball boasts a 2MP built-in camera for capturing high quality images and video.
“The camera was made possible by using the group’s advanced design capabilities and incorporating its patented wireless solutions, which allows for continuous streaming of up to 20 meters wirelessly,” says Trek 2000.
The i-Ball also uses CR2 size batteries that can last for up to 1.5 hours.
Roughly the size of a 50-cent coin, the i- Ball boasts a 2MP built-in camera for capturing high quality images and video.
“The camera was made possible by using the group’s advanced design capabilities and incorporating its patented wireless solutions, which allows for continuous streaming of up to 20 meters wirelessly,” says Trek 2000.
The i-Ball also uses CR2 size batteries that can last for up to 1.5 hours.
Sunday, October 17, 2010
China's auto industry not overheated, analysts say
SHIYAN, Hubei - China's automotive industry is not overheated despite its continued fast growth, an industry analyst said Sunday, amid recent concerns that overcapacity problems loom in the world's largest auto market.
"In the Jan-Sept period, China's auto industry saw its growth pace returning to rationality, which indicated the industry had entered into a stable, healthy and normal state," said Dong Yang, vice president of the China Association of Automotive Manufacturers (CAAM).
Dong was attending a ceremony in Shiyan city in the central province of Hubei, where Dongfeng Motor's commercial vehicles division is located.
Auto production in China was up 70 to 80 percent in January and February from one year earlier. But growth slowed to 22 percent in June, and to between 14 percent and 17 percent in the third quarter, which Dong said was a "very sensible" speed.
"Economists agree that China's auto industry had better expand one and a half times faster than its gross domestic production," he added. "The auto industry must maintain a double-digit growth to keep China's economy running in a sustainable way as the government continues its industrial restructuring effort and encourages people to spend money."
Analysts forecast that auto sales in the world's second-largest economy will surge 25 percent to 17 million units for the full year, providing a striking contrast to automakers fighting flat or slackening sales in the United States and other mature markets.
China became the world's No 1 auto market last year, with sales topping 13 million vehicles. The market continued expanding rapidly as sales in the first nine months of this year climbed 36 percent compared to last year's level.
Meanwhile, global automakers are still developing massive expansion plans in the country, hoping the booming market will offset sales slumps elsewhere in the world.
All this gives fresh ammunition to critics who question whether the big market demand in China will last, with some scholars comparing the market boom to the baby boom in the 1950s and 1960s that left many trapped in cycles of poverty.
"China's public transportation system is witnessing rapid development and autos are durable consumer goods. Once people' enthusiasm towards cars cools down, the overcapacity issue will emerge," warned Ge Baoshan, a professor of economics at northeast China's Jilin University.
"As China's economy expands, more people are expecting to have their own cars," Dong argued. "You can't impose restrictions on the auto industry just because mega-cities like Beijing and Shanghai are plagued with traffic jams."
"As big cities are promoting public transportation to get people out of private cars, the automakers will have to penetrate into second and third tier cities in the country's vast west where more vehicles are still needed to improve transport."
Xu Changming, a researcher at the State Information Center, also believes it is unnecessary to worry about the alleged overcapacity. He said the capacity utilization of China's auto industry was roughly 120 percent in 2009.
"Modern enterprises, especially privately-owned ones such as BYD and Geely, are sensitive to the market and can make market-oriented plans for production, " he said.
(Xinhua)
Friday, October 15, 2010
US solar show reflects continued growth of solar energy
LOS ANGELES - Solar Power International 2010, the largest business-to-business solar conference and expo in North America, opened in Los Angeles Tuesday with over 1,100 exhibitors coming from many countries of the world, including China.
Presented by Solar Electric Power Association (SEPA) and Solar Energy Industries Association (SEIA), Solar Power International 2010 will last till Oct 14 at the Los Angeles Convention Center.
As the premier US event for the global solar energy market, the 2009 show broke all previous records and conference organizers expect the event this year to reflect the continued growth of the global solar energy market.
The US solar market is exploding and is anticipated to become the largest market in the world. According to SEIA, the US solar revenues grew 37 percent last year.
According to SEPA, market in the 10 utility service territories with the most solar grew by an astounding 66 percent. All signs indicate that 2010 will be another breakthrough year, creating a stronger solar market, tens of thousands of jobs and more clean, safe and reliable energy for the nation.
This year's agenda features dynamic keynotes, including an address by James Carville and Mary Matalin, the highly anticipated annual CEO Panel, and more than 35 breakout sessions covering the latest developments in policy, finance, markets and technology.
The exhibit floor encompasses the complete range of solar energy technologies: photovoltaics, concentrating photovoltaics, concentrating solar power (also referred to as solar thermal electric), solar water heating, and space heating and cooling.
Networking opportunities abound in the bustling exhibit hall, opening reception and ever-popular Solar Block Party, this year at LA Live. Unlike other solar conferences and expos in the US, typically presented by for-profit entities, the proceeds from Solar Power International are reinvested by non-profit organizers SEPA and SEIA back into policy, research and education activities that support accelerated growth of the US solar market.
"The US solar industry weathered the broad economic challenges of 2009, growing revenue by 36 percent, expanding utility-scale capacity by 37 percent, and attracting $1.4 billion in venture capital in 2009," said Rhone Resch, SEIA president and CEO.
"Solar is now poised for record growth in 2010 and beyond. Professionals who want to take advantage of this escalating growth will once again find Solar Power International to be the critical connection point in North America for expanding their business. By learning how to navigate the ever-changing US policy landscape and connecting with key leaders in the industry, attendees will gain new customers and revenue possibilities," Resch added.
Experts attending the conference are talking about the watershed moment for the world for the balance-of-systems (BOS) sector of the solar industry.
Modules are the glamorous hardware; they're visible, made with quickly evolving technology, and can transform light into energy. Inverters are the muscle, making the connection to the grid with utility-grade performance and reliability.
Experts said electrical balance of system is traditionally a catchall, for good reason -- it's made up of a bunch of relatively small pieces that have traditionally been selected piecemeal. It's important to remember, though, that including installation labor costs, BOS is fully twice as large a market as inverters. More importantly, BOS is full of opportunity for cost reductions -- and that's why a watershed may be at hand.
Besides exhibits, the Solar Power International's Public Night is another attraction. In previous years, Public Night has been a popular event, drawing more than 5,000 people interested in learning about the latest solar technology.
This event, to be held on Wednesday night, is a unique opportunity for Southern Californians to learn about the many different ways of capturing and using solar energy, all under one roof.
"Our annual Public Night is an important part of our show program, since it's one of our biggest opportunities to educate the public about the benefits of solar energy," said Brian Tully, executive director of Solar Energy Trade Shows.
"We hope people leave Public Night with ideas about how to get involved, whether it's using solar energy for their home or business, or getting a job in the growing solar industry," Tully added.
Tuesday's highlight included a Solar Idea Swaps, which is new this year. The sessions are designed to allow for small-scale networking and discussion among the conference attendees. Each hour-long session is facilitated by a subject matter expert, creating the opportunity for a lively, interactive group conversation.
The Solar Power Conference and Expo was created in 2004 when SEPA & SEIA joined together in partnership to create the first business-to-business solar conference and expo in the US In 2008, the event was rebranded as Solar Power International to capture the true essence of the event.
(Xinhua)
Presented by Solar Electric Power Association (SEPA) and Solar Energy Industries Association (SEIA), Solar Power International 2010 will last till Oct 14 at the Los Angeles Convention Center.
As the premier US event for the global solar energy market, the 2009 show broke all previous records and conference organizers expect the event this year to reflect the continued growth of the global solar energy market.
The US solar market is exploding and is anticipated to become the largest market in the world. According to SEIA, the US solar revenues grew 37 percent last year.
According to SEPA, market in the 10 utility service territories with the most solar grew by an astounding 66 percent. All signs indicate that 2010 will be another breakthrough year, creating a stronger solar market, tens of thousands of jobs and more clean, safe and reliable energy for the nation.
This year's agenda features dynamic keynotes, including an address by James Carville and Mary Matalin, the highly anticipated annual CEO Panel, and more than 35 breakout sessions covering the latest developments in policy, finance, markets and technology.
The exhibit floor encompasses the complete range of solar energy technologies: photovoltaics, concentrating photovoltaics, concentrating solar power (also referred to as solar thermal electric), solar water heating, and space heating and cooling.
Networking opportunities abound in the bustling exhibit hall, opening reception and ever-popular Solar Block Party, this year at LA Live. Unlike other solar conferences and expos in the US, typically presented by for-profit entities, the proceeds from Solar Power International are reinvested by non-profit organizers SEPA and SEIA back into policy, research and education activities that support accelerated growth of the US solar market.
"The US solar industry weathered the broad economic challenges of 2009, growing revenue by 36 percent, expanding utility-scale capacity by 37 percent, and attracting $1.4 billion in venture capital in 2009," said Rhone Resch, SEIA president and CEO.
"Solar is now poised for record growth in 2010 and beyond. Professionals who want to take advantage of this escalating growth will once again find Solar Power International to be the critical connection point in North America for expanding their business. By learning how to navigate the ever-changing US policy landscape and connecting with key leaders in the industry, attendees will gain new customers and revenue possibilities," Resch added.
Experts attending the conference are talking about the watershed moment for the world for the balance-of-systems (BOS) sector of the solar industry.
Modules are the glamorous hardware; they're visible, made with quickly evolving technology, and can transform light into energy. Inverters are the muscle, making the connection to the grid with utility-grade performance and reliability.
Experts said electrical balance of system is traditionally a catchall, for good reason -- it's made up of a bunch of relatively small pieces that have traditionally been selected piecemeal. It's important to remember, though, that including installation labor costs, BOS is fully twice as large a market as inverters. More importantly, BOS is full of opportunity for cost reductions -- and that's why a watershed may be at hand.
Besides exhibits, the Solar Power International's Public Night is another attraction. In previous years, Public Night has been a popular event, drawing more than 5,000 people interested in learning about the latest solar technology.
This event, to be held on Wednesday night, is a unique opportunity for Southern Californians to learn about the many different ways of capturing and using solar energy, all under one roof.
"Our annual Public Night is an important part of our show program, since it's one of our biggest opportunities to educate the public about the benefits of solar energy," said Brian Tully, executive director of Solar Energy Trade Shows.
"We hope people leave Public Night with ideas about how to get involved, whether it's using solar energy for their home or business, or getting a job in the growing solar industry," Tully added.
Tuesday's highlight included a Solar Idea Swaps, which is new this year. The sessions are designed to allow for small-scale networking and discussion among the conference attendees. Each hour-long session is facilitated by a subject matter expert, creating the opportunity for a lively, interactive group conversation.
The Solar Power Conference and Expo was created in 2004 when SEPA & SEIA joined together in partnership to create the first business-to-business solar conference and expo in the US In 2008, the event was rebranded as Solar Power International to capture the true essence of the event.
(Xinhua)
Tuesday, October 12, 2010
China auto sales growth slows
AP
China's auto sales slowed further in September as a boom fuelled by tax breaks and subsidies faded.
Official figures for the month, delayed by a weeklong national holiday, showed total sales rising 17 per cent from a year earlier to 1.56 million vehicles, down from 18 per cent in August, the China Association of Automobile Manufacturers reported on Tuesday.
Sales rose 16 per cent in July and 21 per cent in June, but have generally slowed since spring.
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Passenger car sales rose 19.3 per cent to 1.2 million vehicles, the group said on its website.
"Growth in China's auto market seems to be back to normal after the boom," said Wei Chenggang, an analyst at Shanghai Securities, in Shanghai, forecasting further slowing in months to come.
"This might be bad for automakers in the short term, but is definitely better for the sustainable development of the industry," he said.
China became the world's largest auto market in 2009 when sales surged 45 per cent to 13.6 million vehicles.
Analysts are forecasting that sales may climb roughly 30 per cent to about 17 million vehicles for the year, providing a respite for automakers still fighting flat or weakening sales in the US and other more mature markets.
In January-September, China's total vehicle sales rose 36 per cent to 13.1 million units, while passenger car sales climbed 37 per cent, to 9.9 million vehicles, after rising nearly 40 per cent in the first eight months of the year, the industry group reported.
Figures from several foreign and domestic automakers also showed growth in sales easing.
GM said its sales rose 15 per cent to 208,353 vehicles in September, slowing from 19 per cent in August and 22 per cent in July. GM's total sales in China climbed 37.4 per cent in January to September from a year earlier, to a record 1.78 million vehicles, the company said.
Back in the US GM's sales slipped slightly in September from August as shoppers wary of spending on big ticket items steered clear of showrooms. They were up 10.5 per cent from a year earlier, when sales slumped following the end of the Cash for Clunkers program.
Ford Motor China said its sales rose 26 per cent in September from a year earlier, to 50,970 vehicles, up slightly from a 24 per cent increase the month before. Sales in the first nine months of the year were up 40 per cent at 419,073 units.
Japan's Honda Motor saw sales inch up three per cent in September from a year earlier, while sales for the year climbed a modest 16 per cent.
GM partner Shanghai Automotive Industry Corp, or SAIC, said sales of their Shanghai GM joint venture surged 41 per cent year-on-year, while SAIC's overall sales grew 23 per cent in September, up from 22 per cent in August.
SAIC VW, its venture with Germany's Volkswagen AG, saw sales climb 36 per cent. Volkswagen, which did not report separate China sales figures for September, said its January-September sales jumped 39 per cent from the year before to 1.48 million vehicles.
© 2010 AP
China's auto sales slowed further in September as a boom fuelled by tax breaks and subsidies faded.
Official figures for the month, delayed by a weeklong national holiday, showed total sales rising 17 per cent from a year earlier to 1.56 million vehicles, down from 18 per cent in August, the China Association of Automobile Manufacturers reported on Tuesday.
Sales rose 16 per cent in July and 21 per cent in June, but have generally slowed since spring.
Advertisement: Story continues below
Passenger car sales rose 19.3 per cent to 1.2 million vehicles, the group said on its website.
"Growth in China's auto market seems to be back to normal after the boom," said Wei Chenggang, an analyst at Shanghai Securities, in Shanghai, forecasting further slowing in months to come.
"This might be bad for automakers in the short term, but is definitely better for the sustainable development of the industry," he said.
China became the world's largest auto market in 2009 when sales surged 45 per cent to 13.6 million vehicles.
Analysts are forecasting that sales may climb roughly 30 per cent to about 17 million vehicles for the year, providing a respite for automakers still fighting flat or weakening sales in the US and other more mature markets.
In January-September, China's total vehicle sales rose 36 per cent to 13.1 million units, while passenger car sales climbed 37 per cent, to 9.9 million vehicles, after rising nearly 40 per cent in the first eight months of the year, the industry group reported.
Figures from several foreign and domestic automakers also showed growth in sales easing.
GM said its sales rose 15 per cent to 208,353 vehicles in September, slowing from 19 per cent in August and 22 per cent in July. GM's total sales in China climbed 37.4 per cent in January to September from a year earlier, to a record 1.78 million vehicles, the company said.
Back in the US GM's sales slipped slightly in September from August as shoppers wary of spending on big ticket items steered clear of showrooms. They were up 10.5 per cent from a year earlier, when sales slumped following the end of the Cash for Clunkers program.
Ford Motor China said its sales rose 26 per cent in September from a year earlier, to 50,970 vehicles, up slightly from a 24 per cent increase the month before. Sales in the first nine months of the year were up 40 per cent at 419,073 units.
Japan's Honda Motor saw sales inch up three per cent in September from a year earlier, while sales for the year climbed a modest 16 per cent.
GM partner Shanghai Automotive Industry Corp, or SAIC, said sales of their Shanghai GM joint venture surged 41 per cent year-on-year, while SAIC's overall sales grew 23 per cent in September, up from 22 per cent in August.
SAIC VW, its venture with Germany's Volkswagen AG, saw sales climb 36 per cent. Volkswagen, which did not report separate China sales figures for September, said its January-September sales jumped 39 per cent from the year before to 1.48 million vehicles.
© 2010 AP
China's auto sales jump 35.97% in first 9 months
BEIJING -- Auto sales in China rose 35.97 percent from a year earlier to 13.14 million units in the first nine months of the year, the China Association of Automobile Manufacturers (CAAM) said Tuesday.
Auto production rose 36.1 percent year on year to 13.08 million units in the same period.
The sales figure is close to the total number of vehicles sold last year, when China overtook the United States to become the world's largest auto maker and auto market. Then, Chinese auto production and sales hit 13.79 million and 13.64 million units, respectively.
China's annual production and sales of new autos will surpass 17 million units this year, CAAM forecast.
In September alone, auto production was 1.59 million units, up 16.94 percent from a year ago and 24.69 percent from August.
A total of 1.56 million units of domestically-made vehicles were sold in China in September, up 16.89 percent from a year ago and 17.73 percent from August.
Production of passenger vehicles in the first nine months rose 38.07 percent from a year earlier to 9.88 million units while sales rose 36.68 percent to 9.9 million units.
Production of commercial vehicles in the first nine months grew 30.35 percent from a year earlier to 3.2 million units while sales rose 33.85 percent to 3.24 million.
(Xinhua)
Auto production rose 36.1 percent year on year to 13.08 million units in the same period.
The sales figure is close to the total number of vehicles sold last year, when China overtook the United States to become the world's largest auto maker and auto market. Then, Chinese auto production and sales hit 13.79 million and 13.64 million units, respectively.
China's annual production and sales of new autos will surpass 17 million units this year, CAAM forecast.
In September alone, auto production was 1.59 million units, up 16.94 percent from a year ago and 24.69 percent from August.
A total of 1.56 million units of domestically-made vehicles were sold in China in September, up 16.89 percent from a year ago and 17.73 percent from August.
Production of passenger vehicles in the first nine months rose 38.07 percent from a year earlier to 9.88 million units while sales rose 36.68 percent to 9.9 million units.
Production of commercial vehicles in the first nine months grew 30.35 percent from a year earlier to 3.2 million units while sales rose 33.85 percent to 3.24 million.
(Xinhua)
Tyre output to touch record high on auto boom
Mumbai: India's 2010-11 tyre production is likely to rise to a record 121.4 million units as tyre companies boost capacity to meet booming demand from the local auto industry, a senior industry official said.
“Every (tyre) company is expanding capacity. Demand is good from both OE (original equipment) and replacement segments,” Rajiv Budhraja, director-general of the New-Delhi based Automotive Tyre Manufacturers' Association told Reuters in an interview on Monday.
He said tyre production in 2010-11 is likely to rise by a quarter from last year's 97.13 million units, primarily driven by passenger car and two-wheeler segments at the crest of India's current auto boom
Passenger car sales rose 33.6% on year between April-September this year, data with industry body Society of Indian Automobile Manufacturers (SIAM) showed.
Two wheelers grew 25.86% during April-Sept.
Passenger car tyres production is growing by 25-30%. Demand is very strong in this category. Off the road is also rising by 20-25%, Budhraja said.
Leading tyre makers like MRF Apollo Tyres, JK Tyre & Industries and Ceat have all been furiously working to ramp up capacity. Budhraja estimates an investment of Rs 100-120 billion on expansion in three years to 2011-12.
--Reuters
“Every (tyre) company is expanding capacity. Demand is good from both OE (original equipment) and replacement segments,” Rajiv Budhraja, director-general of the New-Delhi based Automotive Tyre Manufacturers' Association told Reuters in an interview on Monday.
He said tyre production in 2010-11 is likely to rise by a quarter from last year's 97.13 million units, primarily driven by passenger car and two-wheeler segments at the crest of India's current auto boom
Passenger car sales rose 33.6% on year between April-September this year, data with industry body Society of Indian Automobile Manufacturers (SIAM) showed.
Two wheelers grew 25.86% during April-Sept.
Passenger car tyres production is growing by 25-30%. Demand is very strong in this category. Off the road is also rising by 20-25%, Budhraja said.
Leading tyre makers like MRF Apollo Tyres, JK Tyre & Industries and Ceat have all been furiously working to ramp up capacity. Budhraja estimates an investment of Rs 100-120 billion on expansion in three years to 2011-12.
--Reuters
Monday, October 11, 2010
China's car sales hits all-time high
Annual car sales in China are estimated to reach 17 million, which is equivalent to the United States' sales record, according to the China Association of Automobile Manufacturers.
In 2009, a total of 13.64 million cars were sold, which made China the largest new-car market in the world.
In the past eight months, China has sold 12 million new cars, up 39 percent from last year. In September, car sales surged by almost 40 percent.
The growth in the car market has raised serious concerns. In addition to problems with energy supply, traffic jams and pollution, the industry is facing great difficulties in quality development.
In China, the majority of domestic enterprises are engaged in production, while advanced applications, such as design and technological development, are undertaken by foreign companies.
Many experts worry the car market's rapid expansion will result in surplus production, impede the sustainable development of the industry, and harm the country's overall economy.
Taking this into account, the State Council issued a document in September that listed the auto industry on the top of the industries to be restructured.
By Chen Xia
China.org.cn, October 11, 2010
Huge potential for retirement housing REIT in China
SINGAPORE : Investors could soon see real estate investment trusts being formed specialising in retirement housing in China, according to experts at an industry conference.
They said such a model is already popular in the west. Still, they cautioned that investing in this nascent industry in China may carry significant risks.
It is estimated that about 3 in 10 people in China will be over 60 years old by 2030.
That's more than double the current proportion, according to the latest data from the United Nations.
Observers believe that the needs of this ageing population could fuel the demand for elderly housing options.
This could include inter-generational housing projects such as granny flats, or dual key units.
Such units allow parents to stay close to their children, and it's expected to be popular in China where there is a strong culture of filial piety.
"We are trying to raise funds to invest in such projects and then we want to list the company at the exchange market. And if hold enough property, we can also list it as property (trust) in the REITS market," said Zhuang Ting, GM of Yinghong Equity Investment Fund Management.
China is reportedly set to roll out two REITS by the end of the year, which involve low-cost subsidised housing.
Observers are optimistic that this could pave the way for a similar REIT to be launched for retirement housing.
But experts warn that there are some risks with the industry as it is still in its infancy.
This includes many grey areas like licensing and the lack of a common regulatory framework across provinces.
"The challenges would be, you would really need to have a strong partner with good government contacts, or even a link with the government directly, and also a strong development partner in order to be able to execute the asset," said Elaine Young, CEO of property player Shama.
Observers said other challenges facing the industry include recruiting or training local talent, as many are still relatively unfamiliar with such concept of elderly housing facilities.
Shama has started to explore options in this industry more seriously over the past year with a local partner.
It said that the benefits to having a local partner could include preferential policies or subsidies for land.
"It's a big step to go into this market. We are talking to a very strong developer who has got six landbanks. They are building, in each of these landbanks, mini cities of which there are multiple towers - say 8-12 residential towers - of which we'd be interested to take one of these towers for a senior living facility," said Young. - CNA /ls
They said such a model is already popular in the west. Still, they cautioned that investing in this nascent industry in China may carry significant risks.
It is estimated that about 3 in 10 people in China will be over 60 years old by 2030.
That's more than double the current proportion, according to the latest data from the United Nations.
Observers believe that the needs of this ageing population could fuel the demand for elderly housing options.
This could include inter-generational housing projects such as granny flats, or dual key units.
Such units allow parents to stay close to their children, and it's expected to be popular in China where there is a strong culture of filial piety.
"We are trying to raise funds to invest in such projects and then we want to list the company at the exchange market. And if hold enough property, we can also list it as property (trust) in the REITS market," said Zhuang Ting, GM of Yinghong Equity Investment Fund Management.
China is reportedly set to roll out two REITS by the end of the year, which involve low-cost subsidised housing.
Observers are optimistic that this could pave the way for a similar REIT to be launched for retirement housing.
But experts warn that there are some risks with the industry as it is still in its infancy.
This includes many grey areas like licensing and the lack of a common regulatory framework across provinces.
"The challenges would be, you would really need to have a strong partner with good government contacts, or even a link with the government directly, and also a strong development partner in order to be able to execute the asset," said Elaine Young, CEO of property player Shama.
Observers said other challenges facing the industry include recruiting or training local talent, as many are still relatively unfamiliar with such concept of elderly housing facilities.
Shama has started to explore options in this industry more seriously over the past year with a local partner.
It said that the benefits to having a local partner could include preferential policies or subsidies for land.
"It's a big step to go into this market. We are talking to a very strong developer who has got six landbanks. They are building, in each of these landbanks, mini cities of which there are multiple towers - say 8-12 residential towers - of which we'd be interested to take one of these towers for a senior living facility," said Young. - CNA /ls
Asiasons WFG Research expects Trek’s 2011 profit to jump to more than US$10 m
Who we met: Mr Gurcharan Singh (Group CFO)
Going forward, the growth of the company is expected to be driven by its latest brainchild known as the FluCard, a form factor of the Secure Digital (SD) card.
Presently, while there are cameras or other SD cards with Wi-Fi attributes, we understand from management that these products are only able to transfer data on a limited number of networks.
The FluCard, however, is compatible with all existing digital cameras with SD card slots and has a memory of up to 30 secured networks. Furthermore, there is also an online portal for FluCard users to upload their digital content.
Key takeaways:
1) Financial Review - Trek 2000 reported 2Q10 revenue of US$21.1m (+52% YoY, -0.9% QoQ) while net earnings came in at US$0.8m (+84.5% YoY, +151.3% QoQ) as its higher-margined mobile media solutions business drove growth. However, we are expecting 4Q10 earnings to be way higher than what was seen in 2Q10 as contributions from its FluCard would then be recognised.
2) Industry Review - The IT landscape in which Trek is involved is highly competitive, thus leading to relatively low earnings for Trek in the past two years where net earnings amounted to less than US$1.5m collectively. Margins have been generally low, although we do recognize that this issue is also seen in the company's competitors as well.
Players in this industry are required to come up with their "killer products" should they wish to alter this equation, and Trek believes that its FluCard to set to take up this challenge.
3) Company Review - We surmise that Trek's previous strategy pertaining to its ThumbDrive was not well-executed as the company opted to market this innovative product without any major backing from any MNCs. However, in promoting the FluCard, Trek would be working very closely with major shareholder Toshiba where a consortium of MNCs will be formed to sell this new product. Given the robust backing from this tech heavyweight, we therefore strongly believe that it would be different for Trek this time round as Toshiba will appoint the company as the official OEM for the FluCard while overseeing its IP protection rights along with the consortium.
Our view:
We are expecting market reception for the FluCard to be highly positive and that meaningful contributions from this product should kick in during 4Q10. Therefore, we estimate that FY10 net earnings should be no less than US$4.5m as compared to the US$0.7m that was seen in FY09. For FY11, we believe that net profitability should also more than exceed the US$10m mark as it ramps up its production of the FluCard while demand is expected to be supported by the various camera makers.
www.nextinsight.biz
Going forward, the growth of the company is expected to be driven by its latest brainchild known as the FluCard, a form factor of the Secure Digital (SD) card.
Presently, while there are cameras or other SD cards with Wi-Fi attributes, we understand from management that these products are only able to transfer data on a limited number of networks.
The FluCard, however, is compatible with all existing digital cameras with SD card slots and has a memory of up to 30 secured networks. Furthermore, there is also an online portal for FluCard users to upload their digital content.
Key takeaways:
1) Financial Review - Trek 2000 reported 2Q10 revenue of US$21.1m (+52% YoY, -0.9% QoQ) while net earnings came in at US$0.8m (+84.5% YoY, +151.3% QoQ) as its higher-margined mobile media solutions business drove growth. However, we are expecting 4Q10 earnings to be way higher than what was seen in 2Q10 as contributions from its FluCard would then be recognised.
2) Industry Review - The IT landscape in which Trek is involved is highly competitive, thus leading to relatively low earnings for Trek in the past two years where net earnings amounted to less than US$1.5m collectively. Margins have been generally low, although we do recognize that this issue is also seen in the company's competitors as well.
Players in this industry are required to come up with their "killer products" should they wish to alter this equation, and Trek believes that its FluCard to set to take up this challenge.
3) Company Review - We surmise that Trek's previous strategy pertaining to its ThumbDrive was not well-executed as the company opted to market this innovative product without any major backing from any MNCs. However, in promoting the FluCard, Trek would be working very closely with major shareholder Toshiba where a consortium of MNCs will be formed to sell this new product. Given the robust backing from this tech heavyweight, we therefore strongly believe that it would be different for Trek this time round as Toshiba will appoint the company as the official OEM for the FluCard while overseeing its IP protection rights along with the consortium.
Our view:
We are expecting market reception for the FluCard to be highly positive and that meaningful contributions from this product should kick in during 4Q10. Therefore, we estimate that FY10 net earnings should be no less than US$4.5m as compared to the US$0.7m that was seen in FY09. For FY11, we believe that net profitability should also more than exceed the US$10m mark as it ramps up its production of the FluCard while demand is expected to be supported by the various camera makers.
www.nextinsight.biz
Sunday, October 10, 2010
CACOLA FURNITURE INTL LIMITED
-shares issued 345m
-FA RMB 68M, CA RMB 320M, CL RMB 40M, FA RMB 0M
-NET ASSETS RMB 348M, NAV RMB 1 (SGD 0.20)
-CASH RMB 165M , CASH PER SHARE SGD0.095
-CURRENT MARKET PRICE SGD0.065
- price-to-book 0.35x
- price-to-cash 0.68x
-FA RMB 68M, CA RMB 320M, CL RMB 40M, FA RMB 0M
-NET ASSETS RMB 348M, NAV RMB 1 (SGD 0.20)
-CASH RMB 165M , CASH PER SHARE SGD0.095
-CURRENT MARKET PRICE SGD0.065
- price-to-book 0.35x
- price-to-cash 0.68x
China hands out 510 mln yuan in subsidies in Sept. for car program
China's old-for-new car program provided 510 million yuan (about 76.35 million U.S. dollars) in subsidies for vehicle purchases in September, the Ministry of Commerce (MOC) said Saturday.
Some 36,000 automobiles were sold under the trade-in program last month, up 50 percent from August, the MOC reported in a statement on its website.
In the first nine months of 2010, the country issued 3.5 billion yuan in subsidies for old-for-new vehicle purchases, worth 28.6 billion yuan.
A total of 250,000 autos were sold under the program during the nine-month period, according to the statement.
The surge in old-for-new car purchases was partly due to the government's move in January to increase the trade-in subsidy to 5,000-18,000 yuan, as opposed to the earlier subsidy of 3,000-6,000 yuan.
In early June, the government rolled out new incentives for purchases of fuel-efficient cars, including a subsidy of 60,000 yuan for all-electric vehicle buyers and a 3,000-yuan subsidy for certain fuel-efficient cars equipped with 1.6-liter or smaller engines.
The trade-in program was introduced by the MOC and the Ministry of Finance last year as part of the country's efforts to boost domestic consumption amid the global economic downturn and to eliminate gasoline-guzzling vehicles.
-Xinhua
Some 36,000 automobiles were sold under the trade-in program last month, up 50 percent from August, the MOC reported in a statement on its website.
In the first nine months of 2010, the country issued 3.5 billion yuan in subsidies for old-for-new vehicle purchases, worth 28.6 billion yuan.
A total of 250,000 autos were sold under the program during the nine-month period, according to the statement.
The surge in old-for-new car purchases was partly due to the government's move in January to increase the trade-in subsidy to 5,000-18,000 yuan, as opposed to the earlier subsidy of 3,000-6,000 yuan.
In early June, the government rolled out new incentives for purchases of fuel-efficient cars, including a subsidy of 60,000 yuan for all-electric vehicle buyers and a 3,000-yuan subsidy for certain fuel-efficient cars equipped with 1.6-liter or smaller engines.
The trade-in program was introduced by the MOC and the Ministry of Finance last year as part of the country's efforts to boost domestic consumption amid the global economic downturn and to eliminate gasoline-guzzling vehicles.
-Xinhua
Saturday, October 9, 2010
China's new trend: Renting cars for long holidays
China's seven-day National Day holiday has just past. When people got back to work, saw their colleagues and asked about their holidays, reporters found an interesting new trend in Beijing and Shanghai during the nationwide holiday – more people rented cars for their vacations.
The customers' freedom to use the cars as they wish, the good price and convenient rental procedure are the major reasons that more people choose to rent cars and drive themselves during the holidays.
The customers' freedom to use the cars as they wish, the good price and convenient rental procedure are the major reasons that more people choose to rent cars and drive themselves during the holidays.
Indian tyre makers to import over 30,000 T rubber Oct-Dec
Indian tyre makers will import over 30,000 tonnes natural rubber in Oct-Dec and are also looking for similar quantities for Jan-March delivery, as rising demand outweighs higher international prices, industry players said.
That would put total imports for this fiscal year close to the 170,679 tonnes of 2009/10, when India's needs nearly doubled as domestic production was hit by a severe drought.
"Tyre makers have already signed deals for 30,000 tonnes of rubber imports because of the difference between domestic and international prices. In Thailand rubber was cheaper when they contracted," a dealer based in Kochi, in the southern state of Kerala, said.
In August, Indian rubber makers were charging a premium of as much as 35 rupees ($0.79) per kilogramme (kg) over the Bangkok market, prompting Indian tyre companies to buy rubber from overseas markets.
"Despite duty, overseas rubber was cheaper. Now the gap between domestic and international markets has come down, but tyre makers are likely to import to cater to their rising demand," the dealer said.
The world's fourth-biggest natural rubber producer currently charges 20 percent duty on the imports. India's imports between April-September stood at 107,190 tonnes, down 12 percent compared to 122,095 tonnes a year ago.
On Thursday, the Indian price was over 8 rupees higher per kg than Bangkok market, data with the state-run Rubber Board showed.
"Tyre companies will wait for the government to cut import tax on rubber and afterwards again they will start placing orders," said another dealer.
India may cut the tax on rubber imports to 20.46 rupees per kg from the current 20 percent levy, a government policy adviser said last month.
India's natural rubber production in 2010/11 is likely to fall short of the estimated 893,000 tonnes due to adverse weather conditions, Sajen Peter, chairman of the Rubber Board, said on Wednesday.
The Rubber Board estimates consumption in the country will rise by 5 percent to 978,000 tonnes in 2010/11.
"(Indian) tyre companies are inquiring for imports in first quarter of 2011. They want to contract before prices rise further," said a leading rubber exporter based in Thailand, the world's biggest exporter of natural rubber.
The global rubber market could see two years of tighter supplies and rising prices as output sputters while producers replace ageing trees and demand drives higher in a worldwide recovery, conference delegates said.
Tokyo rubber futures rose further on Thursday, hitting a five-month high on the back of tight supply in producing countries, but the gains were limited by the strength of the Japanese yen, dealers said.
Source : Reuters
That would put total imports for this fiscal year close to the 170,679 tonnes of 2009/10, when India's needs nearly doubled as domestic production was hit by a severe drought.
"Tyre makers have already signed deals for 30,000 tonnes of rubber imports because of the difference between domestic and international prices. In Thailand rubber was cheaper when they contracted," a dealer based in Kochi, in the southern state of Kerala, said.
In August, Indian rubber makers were charging a premium of as much as 35 rupees ($0.79) per kilogramme (kg) over the Bangkok market, prompting Indian tyre companies to buy rubber from overseas markets.
"Despite duty, overseas rubber was cheaper. Now the gap between domestic and international markets has come down, but tyre makers are likely to import to cater to their rising demand," the dealer said.
The world's fourth-biggest natural rubber producer currently charges 20 percent duty on the imports. India's imports between April-September stood at 107,190 tonnes, down 12 percent compared to 122,095 tonnes a year ago.
On Thursday, the Indian price was over 8 rupees higher per kg than Bangkok market, data with the state-run Rubber Board showed.
"Tyre companies will wait for the government to cut import tax on rubber and afterwards again they will start placing orders," said another dealer.
India may cut the tax on rubber imports to 20.46 rupees per kg from the current 20 percent levy, a government policy adviser said last month.
India's natural rubber production in 2010/11 is likely to fall short of the estimated 893,000 tonnes due to adverse weather conditions, Sajen Peter, chairman of the Rubber Board, said on Wednesday.
The Rubber Board estimates consumption in the country will rise by 5 percent to 978,000 tonnes in 2010/11.
"(Indian) tyre companies are inquiring for imports in first quarter of 2011. They want to contract before prices rise further," said a leading rubber exporter based in Thailand, the world's biggest exporter of natural rubber.
The global rubber market could see two years of tighter supplies and rising prices as output sputters while producers replace ageing trees and demand drives higher in a worldwide recovery, conference delegates said.
Tokyo rubber futures rose further on Thursday, hitting a five-month high on the back of tight supply in producing countries, but the gains were limited by the strength of the Japanese yen, dealers said.
Source : Reuters
Thursday, October 7, 2010
China records 474 mln road trips during holiday
China saw a record number of road trips by travelers during the week-long National Day holidays that started Oct.1, data from the Ministry of Transport (MOT) showed Thursday.
Travelers logged in a total of 474 million journeys on the roads between Oct. 1 and 7, up 10.9 percent from the same period last year, MOT spokesman He Jianzhong said, adding that the average figure per day was 67.71 million -- a new record high.
Travelers logged in a total of 474 million journeys on the roads between Oct. 1 and 7, up 10.9 percent from the same period last year, MOT spokesman He Jianzhong said, adding that the average figure per day was 67.71 million -- a new record high.
Motor vehicles in China hit 199m: ministry
BEIJING - The number of motor vehicles on China's roads has hit 199 million, including more than 85 million automobiles, according to a statement released by the the Ministry of Public Security on Oct 7.
The ministry's definition of motor vehicles includes motorcycles,tractors, trucks and cars.
A total of 205 million Chinese have learnt to drive. Of them, 144 million have learnt to drive automobiles, according to the statement.
The number of motor vehicles in China is increasing at a speed of more than 20 million per year and the population of drivers grows at a speed of more than 22 million per year, it reads.
China overtook the United States to become the world's largest automaker and automobile market in 2009.
(Xinhua)
The ministry's definition of motor vehicles includes motorcycles,tractors, trucks and cars.
A total of 205 million Chinese have learnt to drive. Of them, 144 million have learnt to drive automobiles, according to the statement.
The number of motor vehicles in China is increasing at a speed of more than 20 million per year and the population of drivers grows at a speed of more than 22 million per year, it reads.
China overtook the United States to become the world's largest automaker and automobile market in 2009.
(Xinhua)
Japan sales of new imported vehicles jumps 34.7% in April-Sept
Sales of new imported vehicles in Japan, including Japanese brands manufactured abroad, jumped 34.7 percent in the April-September period, from a year earlier, the Japan Automobile Importers Association said in a report on Wednesday.
According to the industry body, sales in the April-September first half of fiscal 2010 totaled 119,053 units, with sales of Japanese-brand cars, trucks and buses soaring 187.0 percent to 23, 652 units.
The report revealed that in the recording period sales of foreign-brand vehicles rose 19.0 percent to 95,401, with passenger car sales increasing 37.2 percent to 113,904 units.
Sales of buses rose to 55 units from 11 on an annualized basis, but truck purchases declined 5.2 percent to 5,094 units, the association said.
Volkswagen, maker of the popular Golf and Polo models was the top selling brand in the six-month recording period, with 25,399 units being sold, followed by Nissan, known for such models as the Fuga coupe and the Cube city car, who sold 16,869 units. BMW took the third spot shifting 16,734 of its high-end vehicles.
September's sales figures alone marked an 11th straight month of increase with sales of new imported vehicles climbing 45.1 percent with 30,0004 units being sold, the report also stated.
Source: Xinhua
According to the industry body, sales in the April-September first half of fiscal 2010 totaled 119,053 units, with sales of Japanese-brand cars, trucks and buses soaring 187.0 percent to 23, 652 units.
The report revealed that in the recording period sales of foreign-brand vehicles rose 19.0 percent to 95,401, with passenger car sales increasing 37.2 percent to 113,904 units.
Sales of buses rose to 55 units from 11 on an annualized basis, but truck purchases declined 5.2 percent to 5,094 units, the association said.
Volkswagen, maker of the popular Golf and Polo models was the top selling brand in the six-month recording period, with 25,399 units being sold, followed by Nissan, known for such models as the Fuga coupe and the Cube city car, who sold 16,869 units. BMW took the third spot shifting 16,734 of its high-end vehicles.
September's sales figures alone marked an 11th straight month of increase with sales of new imported vehicles climbing 45.1 percent with 30,0004 units being sold, the report also stated.
Source: Xinhua
Saturday, October 2, 2010
Car sales slow in US as India accelerates
NEW YORK - Car sales in the United States, Europe and Japan stayed stuck in low gear in September, while emerging markets like India raced ahead.
The loss of government incentives to buy new cars in Europe and Japan led to steep sales drops from a year ago, but US sales bounced back from unusually low levels in September 2009, the month after the US "cash for clunkers" program expired.
The global auto industry's recovery from the financial crisis has been patchy and largely reliant on growth in countries such as China and India, as well as government subsidies and incentives to revive demand.
India's top automakers reported strong September sales, fueled by the country's robust economic growth, but car sales in Japan fell for the first time in 14 months in September after government incentives dried up.
"Overall, I am not that pessimistic about auto demand worldwide," said Lee Sang-hyun, an analyst at NH Investment & Securities in Seoul. "Although demand in the US and Europe is sluggish, sales are growing in emerging markets."from a year earlier, the third month of double-digit declines following an end to government subsidies.
In France, sales of new passenger cars fell 8.1 percent in September, while Italy's new car sales fell 18.9 percent as the loss of incentives to buy less-polluting cars weighed on demand.
In Korea, Hyundai Motors saw year-on-year sales growth of 1.8 percent in September.
Hyundai, the world's fifth-largest carmaker along with its affiliate Kia Motors, benefited from Beijing's subsidies for fuel-efficient models in China, while its Sonata sedan posted strong sales in the United States, analysts said.
Leading US carmakers all reported double-digit percentage gains from a year ago, but General Motors Co said it expected industry-wide sales in September were lower than in August.
GM posted a year-on-year sales gain of 10.5 percent, while Ford Motor Co reported a rise of 46 percent and Chrysler Group said its sales jumped 61 percent.
Hope Emerging
At the Paris Auto Show this week, top carmakers let cautious optimism creep into their outlooks as they looked to emerging markets to dispel the dark clouds over Western economies.
Fiat Chief Executive Sergio Marchionne said the Italian carmaker expects to report a net profit this year as good sales in Latin America this month helped offset weaknesses in Italy and elsewhere in Europe.
The European sales chief for Volkswagen, Europe's biggest carmaker, forecast the global car market will grow by 6-7 percent this year.
Sales at India's top automakers remained robust in September, up as much as 30 percent on a year ago and showing no signs of slowing.
Sales at Maruti Suzuki, India's top carmaker, grew almost 30 percent in September from a year earlier, accelerating from August.
But Japanese sales, after holding up surprisingly well in August, fell 4.1 percent excluding 660cc minivehicles, the Japan Automobile Dealers Association said.
Sales in Japan are expected to come under further pressure after the government stopped accepting applications for its green-car subsidy program last month.
Toyota Motor Corp had been a big beneficiary of the program, particularly with sales of its hybrid flagship Prius. But Toyota's domestic dealership orders fell more than 40 percent in September after funds allocated to the cash-for-clunkers scheme were almost exhausted, the Nikkei business daily reported.
Christopher Richter, an auto analyst at CLSA Asia-Pacific Markets in Tokyo, expected the pattern in Japan to be a repeat of what had happened in Germany -- a period of good sales followed by some very poor sales.
"The makers that are going to get hit the worst by this are going to be first Toyota followed by Honda because these subsidies were constructed to give the maximum subsidy to those who bought the most fuel efficient vehicles," he said.
"When we get into the fully bad month of October probably everybody is going to be down."
India Sales Grow
With demand in developed markets lackluster, global automakers have been increasing their focus on faster-growing regions such as China, now the world's largest auto market, and India.
Sales at Maruti Suzuki, India's top car maker, grew almost 30 percent in September from a year earlier, accelerating from August.
The company, which sells one of every two cars in India, said on Thursday it expects to sell 1.2 million vehicles in the current fiscal year that ends next March, up about a fifth on last year's sales.
"The volume growth is high because economic factors are supportive. The base effect will catch up from the next month for the major auto makers," said Vaishali Jajoo, auto analyst at Mumbai's Angel Broking.
"While rate of growth may taper off, in absolute numbers, I think sales will remain strong."
(Agencies)
The loss of government incentives to buy new cars in Europe and Japan led to steep sales drops from a year ago, but US sales bounced back from unusually low levels in September 2009, the month after the US "cash for clunkers" program expired.
The global auto industry's recovery from the financial crisis has been patchy and largely reliant on growth in countries such as China and India, as well as government subsidies and incentives to revive demand.
India's top automakers reported strong September sales, fueled by the country's robust economic growth, but car sales in Japan fell for the first time in 14 months in September after government incentives dried up.
"Overall, I am not that pessimistic about auto demand worldwide," said Lee Sang-hyun, an analyst at NH Investment & Securities in Seoul. "Although demand in the US and Europe is sluggish, sales are growing in emerging markets."from a year earlier, the third month of double-digit declines following an end to government subsidies.
In France, sales of new passenger cars fell 8.1 percent in September, while Italy's new car sales fell 18.9 percent as the loss of incentives to buy less-polluting cars weighed on demand.
In Korea, Hyundai Motors saw year-on-year sales growth of 1.8 percent in September.
Hyundai, the world's fifth-largest carmaker along with its affiliate Kia Motors, benefited from Beijing's subsidies for fuel-efficient models in China, while its Sonata sedan posted strong sales in the United States, analysts said.
Leading US carmakers all reported double-digit percentage gains from a year ago, but General Motors Co said it expected industry-wide sales in September were lower than in August.
GM posted a year-on-year sales gain of 10.5 percent, while Ford Motor Co reported a rise of 46 percent and Chrysler Group said its sales jumped 61 percent.
Hope Emerging
At the Paris Auto Show this week, top carmakers let cautious optimism creep into their outlooks as they looked to emerging markets to dispel the dark clouds over Western economies.
Fiat Chief Executive Sergio Marchionne said the Italian carmaker expects to report a net profit this year as good sales in Latin America this month helped offset weaknesses in Italy and elsewhere in Europe.
The European sales chief for Volkswagen, Europe's biggest carmaker, forecast the global car market will grow by 6-7 percent this year.
Sales at India's top automakers remained robust in September, up as much as 30 percent on a year ago and showing no signs of slowing.
Sales at Maruti Suzuki, India's top carmaker, grew almost 30 percent in September from a year earlier, accelerating from August.
But Japanese sales, after holding up surprisingly well in August, fell 4.1 percent excluding 660cc minivehicles, the Japan Automobile Dealers Association said.
Sales in Japan are expected to come under further pressure after the government stopped accepting applications for its green-car subsidy program last month.
Toyota Motor Corp had been a big beneficiary of the program, particularly with sales of its hybrid flagship Prius. But Toyota's domestic dealership orders fell more than 40 percent in September after funds allocated to the cash-for-clunkers scheme were almost exhausted, the Nikkei business daily reported.
Christopher Richter, an auto analyst at CLSA Asia-Pacific Markets in Tokyo, expected the pattern in Japan to be a repeat of what had happened in Germany -- a period of good sales followed by some very poor sales.
"The makers that are going to get hit the worst by this are going to be first Toyota followed by Honda because these subsidies were constructed to give the maximum subsidy to those who bought the most fuel efficient vehicles," he said.
"When we get into the fully bad month of October probably everybody is going to be down."
India Sales Grow
With demand in developed markets lackluster, global automakers have been increasing their focus on faster-growing regions such as China, now the world's largest auto market, and India.
Sales at Maruti Suzuki, India's top car maker, grew almost 30 percent in September from a year earlier, accelerating from August.
The company, which sells one of every two cars in India, said on Thursday it expects to sell 1.2 million vehicles in the current fiscal year that ends next March, up about a fifth on last year's sales.
"The volume growth is high because economic factors are supportive. The base effect will catch up from the next month for the major auto makers," said Vaishali Jajoo, auto analyst at Mumbai's Angel Broking.
"While rate of growth may taper off, in absolute numbers, I think sales will remain strong."
(Agencies)
Friday, October 1, 2010
ANWELL TECHNOLOGIES Clinches US$300 M Deal For Solar Modules
SOME SIX months after its factory in Henan, China started mass-production, Anwell has made a breakthrough in sales for its solar modules.
After the stock market closed yesterday, it announced that it has signed an agreement with a ‘leading solar module distributor/developer’ for a minimum 180 MW of solar modules to be delivered over the next three years.
The customer has placed a deposit and the first delivery of the modules will be next month.
The total projected revenue for Anwell is more than USD300 million, the biggest order yet for the solar division of the company, which is listed on the Singapore Exchange.
The delivery would more or less be equally spread out over each quarter and each year, said Franky Fan, the executive chairman of Anwell in a media interview by phone.
He could not disclose the identity and country of origin of the customer but added that it is possible that the contract could exceed 180MW.
All he could say in response to questions was that the solar modules “would not be used in China.”
Prior to this big order, Anwell had been busy selling modules to Europe, the United States, and Australia. The cumulative revenue is not known.
China, despite its ambitions to tap on renewable energy, is still a very small market, accounting for 1-2% of the world demand, said Mr Fan. In years to come, however, it would grow into a significant market.
In the meantime, the economics of the industry continue to favour solar module manufacturers.
Industry-wide, the production cost of thin-film modules is less than US$0.70 per watt (before factoring in the depreciation cost of the manufacturing equipment) while the selling price ranges between US$1.20 and US$1.50 per watt.
Anwell enjoys lower costs as its advanced equipment was self-developed, and operates at a superior level of efficiency, said Mr Fan.
Riding on its cost advantages, it is in the midst of expanding its production capacity from the original 40 MW to 100 MW by the end of this year and to 120-150 MW by the first half of 2011, said Mr Fan.
Anwell has ventured into the solar business through applying its proprietary technologies in developing manufacturing equipment for optical media and OLED.
Grants and other forms of support by the Chinese government have enabled Anwell to rise to be a global player in its industries.
Aside from solar, the Blu-Ray disc business promises to be a new dawn for the company. In July, Anwell signed a Memorandum of Understanding with a global media manufacturer to develop Blu-Ray disc manufacturing equipment that potentially will rake in US$100 million in revenue for Anwell over the next three years.
Riding on its cost advantages, it is in the midst of expanding its production capacity from the original 40 MW to 100 MW by the end of this year and to 150 MW by the first half of 2011, said Mr Fan.
http://www.nextinsight.biz
After the stock market closed yesterday, it announced that it has signed an agreement with a ‘leading solar module distributor/developer’ for a minimum 180 MW of solar modules to be delivered over the next three years.
The customer has placed a deposit and the first delivery of the modules will be next month.
The total projected revenue for Anwell is more than USD300 million, the biggest order yet for the solar division of the company, which is listed on the Singapore Exchange.
The delivery would more or less be equally spread out over each quarter and each year, said Franky Fan, the executive chairman of Anwell in a media interview by phone.
He could not disclose the identity and country of origin of the customer but added that it is possible that the contract could exceed 180MW.
All he could say in response to questions was that the solar modules “would not be used in China.”
Prior to this big order, Anwell had been busy selling modules to Europe, the United States, and Australia. The cumulative revenue is not known.
China, despite its ambitions to tap on renewable energy, is still a very small market, accounting for 1-2% of the world demand, said Mr Fan. In years to come, however, it would grow into a significant market.
In the meantime, the economics of the industry continue to favour solar module manufacturers.
Industry-wide, the production cost of thin-film modules is less than US$0.70 per watt (before factoring in the depreciation cost of the manufacturing equipment) while the selling price ranges between US$1.20 and US$1.50 per watt.
Anwell enjoys lower costs as its advanced equipment was self-developed, and operates at a superior level of efficiency, said Mr Fan.
Riding on its cost advantages, it is in the midst of expanding its production capacity from the original 40 MW to 100 MW by the end of this year and to 120-150 MW by the first half of 2011, said Mr Fan.
Anwell has ventured into the solar business through applying its proprietary technologies in developing manufacturing equipment for optical media and OLED.
Grants and other forms of support by the Chinese government have enabled Anwell to rise to be a global player in its industries.
Aside from solar, the Blu-Ray disc business promises to be a new dawn for the company. In July, Anwell signed a Memorandum of Understanding with a global media manufacturer to develop Blu-Ray disc manufacturing equipment that potentially will rake in US$100 million in revenue for Anwell over the next three years.
Riding on its cost advantages, it is in the midst of expanding its production capacity from the original 40 MW to 100 MW by the end of this year and to 150 MW by the first half of 2011, said Mr Fan.
http://www.nextinsight.biz
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