ABN Newswire

Asian Activities Report for September 19, 2011: Alkane Resources (ASX:ALK) Announce Robust Definitive Feasibility Study Results for Dubbo Zirconia Project

newsroom@abnnewswire.net — Mon, 19 Sept 2011 12:07:53 GMT

Alkane Resources Limited (ASX:ALK) has completed the Definitive Feasibility Study for its Dubbo Zirconia Project in New South Wales. The Study has a base case development of 400,000 tonnes per annum of ore throughput for an initial 20 year period. The more likely development of the expanded 1 million tonne per annum project provides a substantial upside to the base case model with a 20 year EBITDA estimated at A$6 billion. The project has received strong interest for all the product output at the expanded rate and three MOUs have been completed to date.

New Guinea Energy Limited (ASX:NGE) reported today that the Siphon-1 wet gas well in Papua New Guinea had reached a depth of 3863.7 metres, indicating the presence of hydrocarbons over an approximate 11 metre drilled interval. Detailed wireline logging will be conducted to interpret the significance of these hydrocarbon indications.

Lemur Resources Limited (ASX:LMR) has signed a Memorandum of Understanding with Jiro sy Rano Malagasy, the Madagascan Government's state owned electricity company responsible for the production, transport and distribution of electricity in Madagascar. Lemur Resources proposes to build and operate a coal fired power station in South West Madagascar, close to its Imaloto Coal Project, and to provide surplus electricity generated from the power station.

ActivEX Limited (ASX:AIV) announced further significant gold/silver intersections at the Barambah project. This project is a joint venture between ActivEX and Norton Gold Fields Limited (ASX:NGF). On completion of the current drilling and assaying program, ActivEX has exceeded expenditure of A$600,000 and therefore has achieved a 75% interest in the project.

Time Technoplast Limited (BOM:532856) will commence its industrial packing project in Malaysia at the end of Q1, 2012. After successfully starting its operations in China, Indonesia and Taiwan, the Company is now planning to set up packaging unit in Malaysia to produce plastic packaging products for customers in Malaysia and Singapore.

Asia Business News
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Owens-Illinois, Inc. (NYSE:OI) Presents Complete Glass Life Cycle Assessment At China Safe And Sustainable Packaging Summit 2011

newsroom@abnnewswire.net — Tue, 29 Mar 2011 16:25:49 GMT

Owens-Illinois, Inc. (NYSE:OI), the world's largest glass packaging manufacturer, last week presented its complete Life Cycle Assessment (LCA) study at the China Safe and Sustainable Packaging Summit in Hangzhou, China.

The China Safe and Sustainable Packaging Summit shares best practices in reducing resource use, waste and associated costs and creating sustainable packaging with consumer appeal.

Detailing cradle-to-cradle life cycle data on glass, aluminum and Polyethylene Terephthalate (PET) containers, O-I's LCA reveals glass has the most favourable carbon footprint of all those packaging types.

Validated by sustainability research firm AMR Research, O-I's LCA also shows that using recycled glass directly reduces carbon emissions. Every 10% of recycled glass used in production cuts carbon emissions by about 5% and reduces energy use by some 3%.

Further, transporting finished glass containers comprises only a small portion (4 to 5%) of the complete carbon footprint of glass packaging.

"Sustainable packaging is becoming a critical consideration for food and beverage industries in Asia Pacific. O-I's LCA enables a true comparison between packaging materials as it details the complete life of a package - from the extraction of raw materials to the reuse or recycling of the container," said presenter Steve Bourke, Regional Environmental and Risk Manager, O-I Asia Pacific.

"The focus on sustainable packaging in China is expected to grow due to environmental awareness, government initiatives and an increasing population. Glass is not only the consumer choice for taste, purity and safety, it's also 100% recyclable, forever.

"O-I's LCA provides key packaging decision-makers in China with more insight into the environmental impact of their packaging choices. It also dispels many myths associated with the carbon footprint of different packaging types," Mr Bourke said.

O-I is China's second largest glass manufacturer, with eight plants and one mould factory.

O-I's China operations produce around one million tonnes of glass packaging per annum, mainly for the beer, food, wine and spirits industries.

Simone Stella
O-I Asia Pacific
Tel: +61-3-9236-2415
Email: simone.stella@ap.o-i.com
http://www.o-i.com

Australian Market Report of March 10, 2011: Cardia Bioplastics (ASX:CNN) Partner With Wesco China To Distribute Sustainable Resins In China

newsroom@abnnewswire.net — Thu, 10 Mar 2011 12:00:00 GMT

Cardia Bioplastics Limited (ASX:CNN) has appointed Wesco China, China's leading plastics distribution company as Cardia's exclusive distributor in China. Wesco China will offer the comprehensive range of Cardia's sustainable Biohybrid(TM) resins to the Chinese packaging and plastic products industries. The Biohybrid(TM) products will allow customers to reduce carbon footprint and dependence on fossil based resins.

Manas Resources Limited (ASX:MSR) has commenced an extensive drilling and exploration program at its 100%-owned gold projects in the Kyrgyz Republic. The Company will drill up to 20,000m, aiming to significantly increase its current resource base of 1.13Moz of gold. The Shambesai Gold Project is expected to produce its first 100,000 ounces at an average head grade of 5.7 g/t gold in the first three years at a cash cost of US$180 per ounce.

Alara Resources Limited (ASX:AUQ) has commenced a drilling programme at the Khnaiguiyah Zinc Copper Project in the Kingdom of Saudi Arabia, representing a tangible step in advancing the Bankable Feasibility Study of the Project. The Company plans to mobilise additional drill rigs to site to commence a detailed drilling programme and expand the current mineralisation.

Noble Mineral Resources (ASX:NMG) announced high-grade intersections of up to 57.55g/t Au at its Bibiani Gold Project in Ghana. The Project will be the first source of primary ore feed for the Company's refurbished plant. Pre-commissioning of the 2.7Mtpa plant is scheduled to occur during May and June, with the first primary ore feed and commissioning set for July.

Asia Business News
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2nd China Safe And Sustainable Packaging Summit 2011 To Be Held In March In Hangzhou

newsroom@abnnewswire.net — Thu, 30 Dec 2010 16:25:05 GMT

Organized by Duxes Business Consulting Inc. and endorsed by powerful organizations around the world, 2nd China Safe & Sustainable Packaging Summit 2011 will take place on March 23-25, 2011 in Hangzhou, China.

Sustainable packaging has performed well over the past two years bucking the economic downturn. Compared with the overall packaging industry's anticipated growth of 4%, sustainable packaging enjoys high growth of 25-30% per year and is expected to account for 32% of the total market by 2014, while the figure was just 21% in 2009. China, the second largest packaging country in the world, is expected to enjoy the fastest growth of 16% by 2015 with policies and regulations release.

With the last annual event being a great success, the 2nd China Safe & Sustainable Packaging Summit 2011 is to be held with the strong recommendation of previous speakers and attendants.

The 2nd China Safe & Sustainable Packaging Summit 2011 is to give authoritative interpretation of industrial policies and trends of Chinese packaging development. The summit will share with attendees valuable experiences in sustainable packaging programs and eco-innovative sustainable packaging solutions, thus improving safety compliance and environment protection plan. High-profile speakers will deliver lectures on end-users' needs exploration and market strategy optimization.

Event Time: March 23-25, 2011
Venue: Crowne Plaza Hangzhou Grand Canal, Hangzhou, China
Organizer: Duxes Business Consulting Inc.
Website: http://www.duxes-events.com/pkg_2

Email: events@duxes.cn
http://www.duxes.cn/Index.aspx

Australian Market Report of July 21, 2010

newsroom@abnnewswire.net — Wed, 21 July 2010 13:30:59 GMT

The Australian shares opened firmer this morning after Wall Street rose on speculation that the Federal Reserve would provide more stimulus to the US economy. Mining sector delivered a strong gain in early trade, as BHP Billiton posted a report of record annual production.

The benchmark S&P/ASX200 Index gained 0.72 per cent today in early trade while the broader All Ordinaries was up 0.7 per cent.

In economics news on Wednesday, the Westpac-Melbourne Institute releases index of economic activity for May.

Company News

Amcor (ASX:AMC) has reached agreement to sell its Tobepal operations in Spain to Constantia Packaging AG (WBAG:COV) for a consideration of Euro 92 million. The deal has been approved by the European Commission, which required the divestment at the time of approving Amcor's acquisition of parts of the Alcan Packaging business. The business sold is expected to have an EBIT for fiscal year 2009/10 of approximately Euro 11 million and sales of Euro 103 million, said Amcor.

BHP Billiton (ASX:BHP) said the mining giant's petroleum and Western Australia iron ore achieved record annual production record for the year ended 30 June 2010. Petroleum delivered its third consecutive annual production record of 158.56 million boe for the year to June, up 15 per cent from last year. Iron ore production rose 9 per cent to hit 125 million tonnes for the year. But the company continues to be cautious on the short term outlook for the global economy, while governments adjust fiscal policies after significant stimulus and subsequent increase in sovereign debt levels. Volatility in commodity end-demand is expected to persist following China's measures to slow down growth. BHP Billiton says it sees these measures as a normal continuation of China's economic management policies.

Retail group Woolworths Limited (ASX:WOW) reported a full year sales of A$51.7 billion, a 4.2 per cent increase on the previous year. Sales for the supermarket division rose 4.2 per cent to A$44.3 billion. Woolworths Chief Executive Officer, Michael Luscombe said supermarkets division has responded well to customer demand for value and has further enhanced its position in the market.

National Australia Bank (ASX:NAB) says its asset servicing arm is in talks with BNY Mellon Asset Servicing with regard to deepening the long-standing partnership and enhancing the range of products and services available to clients. A joint venture will be formed to combine NAB's offering the Australian asset servicing market with BNY Mellon's extensive global capability. NAB said specific elements of the partnership would be explored in coming months.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

Australian Market Report of June 16, 2010: Guinness Peat Group (ASX:GPG) to Demerge Its Australia Business

newsroom@abnnewswire.net — Wed, 16 June 2010 13:30:52 GMT

The Australian share market delivered a strong opening on Wednesday as Wall Street's rally overnight boosted confidence in local market. S&P/ASX200 index rose 1.4 per cent in early trade, driven by resources, industrial and financial stocks. The Australian shares yesterday closed slightly lower with light volumes while Asia markets were mostly flat.

In economic data today, the Australian Bureau of Statistics is due to release dwelling unit commencements data for March, and Westpac and the Melbourne Institute release their Indexes of Economic Activity.

Company News

Investment company Guinness Peat Group (ASX:GPG)(LON:GPG) (NZE:GPG) said it will demerge its Australia business as its first step of a corporate restructure. GPG Australia will be listed on ASX and NZX and retain the group's traditional investment approach. In addition to the separation of the investment portfolios on a geographical basis, cash and liabilities will be allocated between the two entities prior to the demerger. GPG Plc intends to retain around 20 per cent of GPG Australia. GPG Plc will retain the UK and New Zealand investment portfolio and be listed on the LSE and NZX. Guinness Peat Group subsidiary Coates Group is also anticipated to be floated within the next two years.

Australia-based packaging company Amcor Limited (ASX:AMC) has reached an agreement to purchase the assets of Ball Plastics Packaging Americas from Ball Corporation (NYSE:BLL) for US$280 million. Ball Plastics has five plants in North America and sales of approximately US$600 million. Amcor said the acquisition, presenting a significant opportunity to improve operating efficiencies, will expand Amcor's diversified products business which targets the health care/pharmaceutical, personal care, food and liquor markets. The acquisition will be funded from existing undrawn facilities at an interest cost of approximately 5 per cent.

Rio Tinto Ltd (ASX:RIO) says it is to invest US$469m in building the Kennecott Eagle nickel and copper mine in Michigan's Upper Peninsula in the USA, following receipt of final environmental approvals. Construction of the mine and mill will begin this year and first production is expected in late 2013. The long-term demand outlook remains strong for both nickel and copper and bringing Eagle on stream will give the company greater benefit from that growth, said Chief Executive Copper, Andrew Harding. Eagle will produce separate nickel and copper concentrates containing an average of 17,300 and 13,200 tonnes per year of nickel and copper metal, respectively, over six years.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

PaperlinX (ASX:PPX) Becoming Solely a Merchant

newsroom@abnnewswire.net — Tue, 13 Apr 2010 10:17:03 GMT

Australian paper merchant and manufacturer PaperlinX Ltd (ASX:PPX) said today that it is in the final stage of exit from its Tasmanian manufacturing operations.
It will close its Burnie Mill in Tasmania, with the balance of operations already closed. On completion of the closure, PaperlinX will solely become a merchant with business distributing paper, sign and display, graphics solutions and industrial packaging to a wide range of customers in Australia, New Zealand and Asia, Europe and North America.

Last year, PaperlinX completed an A$700 million sale of its manufacturing arm, Australian Paper, to Japan's Nippon Paper (TYO:3893). The sale immediately reduced the company's debt by A$500 million.

PaperlinX said the overall total net cash cost of its exit from Tasmania is expected to be around A$10 million to A$20 million. PaperlinX managing director, Tom Park, said the exit from Tasmania would cost the company less than it expected originally.

The company now is focussed on completing refinancing programme and on ensuring its competitive position is as robust as it can be in the uncertain economic times.

Michelle Liang
Asia Business News Asia Bureau
TEL: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

Australian Market Report of February 24: Cautious Ahead Bernanke Testimony

newsroom@abnnewswire.net — Wed, 24 Feb 2010 09:30:45 GMT

The Australian share market finished almost unchanged on Tuesday as weakness in resources stocks offset gains in the banking sector. Asian markets were lower yesterday ahead of testimony by US Federal Reserve chairman Ben Bernanke. The benchmark S&P/ASX200 index edged up 0.8 points or 0.02 per cent, at 4718.3 points, while the broader All Ordinaries index had slipped 1.7 points, or 0.04 per cent, lower to 4731.

Key Economic Facts and Figures

Australian Bureau of Statistics Wednesday is set to release labour price index and data of construction work done, both for December quarter.

M&A News

Amcom Telecommunications Ltd (ASX:AMM) is proposed to acquire voice and communications technology provider, IP Systems, for up to A$20.5 million. The company said strategic acquisition expands Amcom's product range into enterprise voice solutions and increases Amcom's addressable market. Initial consideration for the acquisition will be A$6.5 million, consisting of A$5.3 million in cash and 4.1 million Amcom shares at A$0.30 cents each.

Important Corporate News

Gloucester Coal Ltd (ASX:GCL) said net profit for the six months to December 31 was to A$18.1 million, which it said was within expectations and mainly caused by a fall in the price of coal. Net profit for the first half of the 2008/09 financial year was A$44 million, when coking coal prices were at historic highs. Gloucester Coal says the outlook for the company remains positive, with the outlook for coking coal very strong.

Consolidated Media Holdings (ASX:CMJ) reported net profit for the first half of 2009/10 of A$346.20 million, compared to A$391.54 million in the previous corresponding half. The result included proceeds from the sale of its interest in jobs website SEEK and the disposal of investment property. Significantly higher interest revenue'' from the company's cash balance and lower head office costs also contributed to the result.

Packaging company Amcor (ASX:AMC) reported net profit before significant items was up 3 per cent to A$172.5 million The company expects earnings from its biggest business, flexible packaging for food, tobacco and medicines, should improve in the second half from a year earlier, bolstered by cost cuts. The takeover is also expected to substantially boost the company's second-half profit and produce savings through synergies of up to A$250 million over the next three years.

Ridley Corporation Ltd (ASX:RIC) posted a net profit of A$14.9 million for the six months to December 31, up from a loss of $50 million in the previous corresponding period. Ridley also upgraded its profit guidance. It now expects after tax profit for the full year in the range of A$28 million to A$30 million, depending largely upon the status of the dairy sector.

Aristocrat Leisure's (ASX:ALL) calendar 2009 loss was A$157.84 million, largely due to A$274.3 million of abnormal charges, including a $187.3 million provision for a litigation. Aristocrat said its operating profit, before abnormal items, tax and minority interests, was A$116.4 million. The company says 2010 is going to be another tough year, as operational performance would continue to be affected by macro-economic factors, and the company was not expecting broader growth in key global markets before 2011.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

Australian Market Report of December 21: Investors Moved to Safe-Haven

newsroom@abnnewswire.net — Mon, 21 Dec 2009 09:30:14 GMT

The Australian share market closed lower on Friday hit by National Australia Bank and Telstra. At close, the benchmark S&P/ASX200 index fell 19.8 points, or 0.42 per cent, to 4650.5 while the broader All Ordinaries lost 17.7 points, or 0.38 per cent, at 4671.9. The Australian dollar fell to a fresh 10-week low on Friday and closed at US$0.8888.

Key Economic Facts and Figures

The Commonwealth Bank Business Sales Indicator rose by 0.6 per cent in November after rising by 0.5 per cent the previous month. It was 6.8 per cent higher in November than the same month a year before, the fastest annual growth in 22 months. CommSec chief economist Craig James said the business sales indicator showed consumers and firms were being conservative about an improving economy.

On Monday the Australian Bureau of Statistics is due to release its new motor vehicle sales data for November.

M&A News

Jindalee Resources Ltd(ASX:JRL) has received A$33.4 million from the sale of 70 per cent of its holding in Energy Metals Ltd (ASX:EME) to China Uranium Development Company Ltd, pursuant to its proportional takeover offer for EME at A$1.02 cash per share. As a result of this transaction Jindalee now holds cash and shares worth approximately $52.8 million at current market prices and before taxation liability.

Important Corporate News

Foster's Group (ASX:FGL) says wine performance in the first half will be below its expectations given the significant impact of exchange rate movements and US market conditions. The company expects to lose A$80 million to a$90 million from wine earnings in the first half of fiscal 2010 due to exchange rate movements.

ANZ Bank (ASX:ANZ) says it expects the level of provisions for doubtful debts will fall in the year ahead and more significantly in 2011. The banks also said the net profits should be higher in the coming year while the Australian and New Zealand economies are recovering well and the Asian economies are showing strong growth. But it has an increase of 14 per cent in the average weighted number of shares on issue which will adversely affect the growth in earnings per share.

Shares in Telstra Corporation (ASX:TLS) fell on Friday as the company said it expects sales revenue in fiscal year 2010 to be flattish compared to fiscal year 2009 due to a higher local currency and stronger competition. The telecom giant said all other guidance measures remain unchanged and the company is confident of achieving its 2010 free cashflow target of A$6 billion. Telstra also formalised terms of engagement with the NBN Co, which is building Australia's national broadband network, to provide information from a trial fibre-to-the-premises deployment.

Colorpak (ASX:CKL) said it expects the NPAT of the first half will be about 12 per cent ahead of the previous comparable period. Strong operational efficiencies coupled with revenue growth of around 6 per cent above the corresponding half have driven this performance. Given the solid start to the first half and fact that most of its major contracts have been secured, the company expect that the out performance will translate to full year result at a similar level.

Origin Energy Resources Limited (ASX:ORG), as operator of the BassGas Joint Venture, has made the final investment decision for the A$345 million Yolla Mid-Life Enhancement project. Origin owns 42.5 per cent of the project and its share of cost for this project is expected to be A$147 million. Other project participants include AWE Limited (ASX:AWE) and CalEnergy Gas (Australia) Ltd.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

Australian Market Report of November 20: A Drop in Risk Appetite

newsroom@abnnewswire.net — Fri, 20 Nov 2009 13:00:08 GMT

US stocks fell for the second day after a downgrade of technology companies such as Intel. Energy and materials shares also showed losses as commodities prices tumbled.

On Friday the Australian market opened in a negative territory after a fall in Wall Street. Yesterday the local shares closed marginally higher supported by resources sector. The benchmark S&P/ASX200 index closed 10.2 points, or 0.22 per cent higher, at 4749.2 points, while the broader All Ordinaries index gained 8.2 points, or 0.17 per cent, to 4767.8 points.

The Australian dollar continued to sink this morning and opened below $US0.9200 as weaker commodities prices. US dollar's rebound also weighed on the risk sensitive Aussie dollar. At 7am AEDT, the dollar was trading at $US0.9189/90.

Key Economic Facts and Figures

Reserve Bank assistant governor Guy Debelle said overall margins on variable rate housing lending relative to bank funding costs have actually declined a little over the past two years. Banks have to pay more for money sourced from overseas and they are paying substantially more interest on Australian deposits.

The Organisation for Economic Cooperation and Development (OECD) said in its Economic Outlook that it expected Australia to experience a relatively more robust recovery, having been affected less by the global crisis than most other OECD countries. It is forecasting economic growth of 0.8 per cent in 2009, rising to 2.4 per cent in 2010. But the OECD also expects Australian unemployment to peak at 6.3 per cent in 2010.

M&A News

ANZ (ASX:ANZ) today said in a statement that it has agreed to sell its Custodian Services business in Australia and New Zealand to JP Morgan as the bank is refocusing its institutional business on core banking priorities in Australia, New Zealand and Asia. Sale completion is expected before December 31, subject to regulatory approvals, and will be followed by a progressive transfer of business and staff during 2010.

Amcor Ltd (ASX:AMC) noted an announcement lodged by subsidiary AMVIG Holdings Ltd (HKG:2300) with the Hong Kong Stock Exchange, advised that the proposed Brilliant Circle transaction will not be proceeding as proposed after the results of the extraordinary meeting held on November 19. Separately, Amcor yesterday said it will raise US$850 million by issuing fixed coupon notes to US private investors.

Medic Vision Ltd (ASX:MVH) has assessed two companies with which it had signed heads of agreements. The first was the purchase of 100 per cent of a digital marketing and communications company, cBox Pty Ltd, and the other was for the purchase of 51pc of a company that was synergistic with Medic Vision's Red Paragon subsidiary. The company decided not to proceed with the latter.

Important Corporate News

Sims Metal Management Ltd (ASX:SGM) is to raise A$400 million via a fully underwritten placement. The company will also provide an offer to eligible shareholders of up to A$15,000 of shares through a share purchase plan (SPP). The target amount to be raised under the SPP is A$75 million and it is not underwritten. The proceeds will be used to repay debt and fund working capital.

Woodside Petroleum (ASX:WPL) expects a cost increase of between A$672 million and A$1.1 billion at its Pluto liquefied natural gas project in Western Australia after a review of the cost and schedule. The cost of the project is likely to be 6 per cent to 10 per cent above its original July 2007 estimate of A$11.2 billion due to lower than budgeted productivity in both onshore and offshore construction.