Business News

Hong Kong: Metallurgical Corporation of China Ltd. (“MCC” or the “Company”, SEHK: 1618) is pleased to announce its unaudited interim results for the six months ended 30 June 2011 (the “first half of 2011” or the “Reporting Period”). — Revenue amounted to RMB105,838 million, representing a year-on-year increase of RMB16,988 million or 19.12%. — Gross profit for the period amounted to RMB9,879 million, representing a year-on-year increase of RMB1,038 million or 11.74%. — Basic earnings per share amounted to RMB0.10. — The total assets amounted to RMB319,206 million, representing an increase of RMB30,985 million or 10.75% as at 31 December 2010. — Newly-signed contract value amounted to RMB165,713 million, representing a year-on-year increase of 6.2% from 2010, including USD1,389 million of newly-signed overseas contracts. During the first half of 2011, the Company’s revenue amounted to RMB105,838 million, representing an increase of 19.12% as compared to 30 June 2010 (the “same period last year”). Gross profit of the Company amounted to RMB9,879 million, representing a year-on-year increase of 11.74%. Profit attributable to equity holders of the Company amounted to RMB1,969 million, representing a decrease of 11.47% compared to the same period last year. Basic earnings per share amounted to RMB0.10. Total assets as at 30 June 2011 amounted to RMB319,206 million, representing an increase of RMB30,985 million as compared to 31 December 2010. Total equity amounted to RMB55,495 million, representing an increase of 3.71% as compared to 31 December 2010. Newly-signed contract value amounted to RMB165,713 million, representing a year-on-year increase of 6.2% from 2010, including USD1,389 million of newly-signed overseas contracts. Reviewing the first half of 2011, the Company continued to expand its presence in the non-metallurgical engineering markets such as housing construction as well as transport infrastructure in addition to strengthening its edges over metallurgical engineering and construction. Meanwhile, […]

Picture:The Mining Forum provided the opportunity for the audience to share information relating to smart, safe, sustainable automation in the industry The Australian mining industry is continuing to develop close links with China, opening the door for potential trading partnerships. As part of its ongoing commitment to providing technology solutions, Rockwell Automation hosted the ‘Innovations for Smart, Safe, Sustainable Automation Solutions in the Mining Industry’ Forum held in Brisbane recently. Interested parties from Australia and China were given an opportunity to speak with, share ideas, and hear from a range of speakers on best practices and innovations for the industry. The Forum was well attended with more than 100 people representing, Mining End Users, Consultants, System Integrators, OEM’s and Research Institutes from both Australia and China. The Minister for Foreign Affairs, Kevin Rudd opened the forum. In his welcome address, Mr Rudd emphasised the importance of investment from China in becoming Australia’s closest trading partner. “Our skilled professionals, advanced extraction processes and cutting edge technology have all made Australia a leader in the global minerals industry. We’re also a leader in mining equipment, technology and services,” said Rudd. “Today’s event, and the issues you will be discussing, are important to maintain the momentum of our trade.” Alongside Rudd, Senior Rockwell Automation Leadership – President Asia Pacific, Bob Ruff; Regional Director Australia and New Zealand, Twain Drewett; and Cheng Jie, Regional Sales Director, North and North East, China – also addressed the forum in the opening session. The forum was divided into two streams; Process and Automation, and Power and Safety. Key topics of discussion included: technology involved in remote operating centres, integration of automation and information systems, simulation and reporting systems for mining operations, functional safety in mines, and power and control solutions. The isolated geographical locations of many Australian […]

Bharat Renewable Energy Ltd (BREL), a joint-venture of Bharat Petroleum, India’s second largest petroleum company, has initiated a program with SG Biofuels (SGB) to develop and deploy elite hybrids of Jatropha for the production of biodiesel in India. The program’s first phase includes a crop development effort to produce high performing hybrid varieties of Jatropha adapted to unique growing conditions across the country. Additional phases include the deployment of more than 86,000 acres of Jatropha using SGB’s JMax(TM) hybrid seeds. “With the genetic diversity of their Jatropha hybrid material combined with ability to produce large volumes of hybrid seed, SG Biofuels is an ideal partner to work with to successfully develop, validate and scale Jatropha as the primary source for biodiesel in India,” said Mr. M.V. Radhakrishnan, chief executive officer of Bharat Renewable Energy Ltd. SGB will draw from the advancements of its global JMax(TM) crop development centers where the company is optimizing elite hybrid varieties of Jatropha through a combination of molecular breeding and biotechnology. The centers feature hybrid material from the company’s germplasm library totaling more than 12,000 genotypes. SGB will work with BREL to select, test and scale the highest yielding, most commercially viable hybrid varieties for growing regions in India, including the initial 86,000 acre deployment. In December 2009, the Indian Government developed its National Policy on Biofuels targeting 20% blending of bioethanol and biodiesel into petrol and diesel markets. Government policy stipulates the use of wastelands to cultivate non-edible oil seed plants without affecting food security. According to the Asian Development Bank, the current cultivation of Jatropha and other non-edible oilseeds will need to increase by nearly 80 million acres to meet the nationÕs biodiesel targets. “We look forward to working with BREL to develop a thriving Jatropha industry capable of meeting the country’s significant demand […]

    Gulfstream Aerospace Corp. has received type certificate validation (TCV) for its G150 aircraft from the Civil Aviation Administration of China, a move that allows operators to register the wide-cabin, high-speed business jet there. Gulfstream achieved the validation through close coordination with the U.S. Federal Aviation Administration, China’s CAAC and the Civil Aviation Administration of Israel, where the G150 airframe is built. The G150, thanks to its 3,000 nautical-mile range and high speed, provides exceptional capability and efficiency to Chinese operators and is backed by the same product support organization that services Gulfstream’s long-range G550 and G450 aircraft. The G150 can fly from Singapore to Beijing in 6 hours and 10 minutes, shaving up to 1 hour and 14 minutes off the flight time of other aircraft in its class. The aircraft can travel nonstop from Hong Kong to Mumbai at Mach 0.75, Hong Kong to Delhi at Mach 0.80 and Beijing to Delhi at Mach 0.80. The mid-size jet also offers several options to improve safety, including an Enhanced Vision System (EVS) II, and a Wide Area Augmentation System-Localizer Performance with Vertical Guidance (WAAS-LPV). In addition to China, the G150 has received type certification validation from the Ukraine, Israel, the United States, Chile, the European Union, the Philippines, Canada and Brazil.    

BEIJING: RIM  plans to cut about 2,000 employees, accounting for 11% of the total number of employees. This is the first time RIM disclosed the details of layoffs since it announced layoffs last month. Analysts of Isp.org.cn said the number of layoffs is a little more than the original forecast. However, this layoff is critical for RIM to reverse the declined market share caused by Apple and Google’s competition. Isp.org.cn also points out that the one-time cost of laying off employees is not included in the earnings forecasts of the second fiscal quarter and the whole fiscal year. RIM will explain the financial impact of the cuts in the second-quarter financial report on September. The experts of Isp.org.cn analyzes that RIM said the job cut is a prudent and necessary step for its long-term success. RIM also announced a series of changes of the executive responsibilities and the executives will leave recently. RIM said the chief operating officer Don Morrison will retire. Morrison is currently on the temporary sick leave. He has spent 10 years working in RIM.

Trevor Glen, incriptus CEO   Australia-based incriptus has announced the completion of its round 2 funding and will soon be offering its round 3 prospectus. The company also recently announced the addition of two key individuals in the U.S. to its management team as it prepares to expand beyond Australia. incriptus has introduced a new data backup technology that offers superior data security compared to traditional data centres, is uniquely eco-friendly, and offers nearly unlimited scalability. Until now backing up data into the cloud has meant sending encrypted files to large, remotely located data centers. incriptus has changed that paradigm through its process of first encrypting files, fragmenting them, then encrypting them again as it distributes the fragments across computers throughout the incriptus user network. As a result, no file can be reconstructed from any individual fragment and no complete document resides on any single computer in any s ingle location. According to Trevor Glen, incriptus CEO, “Everybody has unused space on their hard drive. We distribute fragments of data across the hard drives of everyone using incriptus-powered backup. It happens in the background and the only place those pieces can all come back together again is on the originating computer. No data center operator ever has access to a complete file and no natural disaster can wipe out a single location of backed up data.” As it prepares to address the data backup needs of the world, the company announced the addition of two individuals with international expertise to its team. Dr Jana B. Matthews is responsible for organizational development at incriptus and is also serving as a Board Advisor. Matthews has worked with high-growth CEOs, executives and top teams around the world. She has authored seven books on how to grow companies and was named one of 18 […]

The growth of manufacturing across Asia was widely read about – and responded to – in the last issue of Asia Manufacturing News with interest in manufacturing developments in India, using products from Delcam. In this issue the ‘push’ continues with readers having access to some outstanding new products from Fero and SolidWorks. Keeping up with the technology is the name of the game and any equipment -machine tools or software – that can keep your company highly productive and successful is to be encouraged. Take for example our story on Page 4 which explains how costs can be reduced and profitability enhanced by use of design automation. All across Asia, companies evaluate and re-value their levels of efficiency and success. The costs of being in business, the advantages of being efficient. From small contract manufacturers I have visited in Kuala Lumpur and on the outskirts of Bangkok and Nagoya every one is aiming for the best. So be mindful of the true cost of making ‘a product’ do not neglect your research and development needs and if you have specialists in your company especially assigned to give you the advice for a better way of doing business then listen to them. Our manufacturing world is highly competitive, everyone is looking for the advantage. If you specialise, use the right equipment and do not accede your cost structure, keep things tight and do not be too flamboyant with spending then life will be good. You will be a happy business owner, enjoying business life in a satisfying way.  

The issues surrounding phone hacking and the Murdoch Empire won’t be cleared up overnight and will undoubtedly feed the appetites of world media organisations for years to come. I wonder though if hacking in media hasn’t happened before? Can you believe that the Murdoch clan is the only organisation to have done this? And it’s more intricate than that – politicians are involved, the police are involved and the establishment is right in the limelight as the power and control of a massive media empire is now being realised; the impact of its control is frightening the living daylights out of many citizens around the world. The big question may well be “Just who is squeaky clean?”