Japan's Tokyo Gas Co. (TYO:9531) said it has won an exclusive right to negotiate its participation in the Sengkang liquefied natural gas project conducted by Australia's Energy World Corp. (ASX:EWC) on Indonesia's Sulawesi Island. Tokyo Gas aims to take a 25 percent equity stake each in the Energy World's four units involved in the project and buy 500,000 tons of LNG a year, or about 5 percent of the company's total LNG imports. Tokyo Gas hopes to conclude negotiations as soon as end-2010.
Supermarket operator Aeon Co. (TYO:8267) said Wednesday it will launch a tender offer to boost its stake in drugstore affiliate CFS Corp. (TYO:8229). Aeon will buy up to 4.3 million shares for 600 yen per share, bringing the stake to as much as 46.53 per cent from the current 33.22 per cent.
Taiwan industrial motor maker TECO Electric & Machinery Co. (TPE:1504) said it has launched its first own-brand 2-megawatt capacity wind turbine. TECO is talking with clients about orders for nearly 100 onshore turbines and received expressions of interest from potential buyers in the U.S., China and Australia. TECO has signed letters of intent with a company from Singapore for about 20 wind turbines.
Macau casino operator Wynn Macau Ltd. (HKG:1128) said Wednesday posted an increase in its net profit last year, despite revenue were impacted by global economic downturn a swine-flu outbreak and mainland China visa restrictions. Its net profit for the 12 months ended Dec. 31 was HK$2.07 billion, up 1.4 per cent from HK$2.04 billion in 2008, in line the forecast made in February. Wynn Macau expects to open an expansion of its flagship Macau project in April.
Wynn Macau Limited
Tokyo Gas Co., Limited
Teco Electric & Machinery Company Limited
Energy World Corporation Ltd
Aeon Co., Ltd