ABN Newswire http://www.abnnewswire.net Wed, 30 May 2012 01:22:21 newsroom@abnnewswire.net newsroom@abnnewswire.net 60 <![CDATA[ Asian Activities Report for January 4, 2012: LDK Solar (NYSE:LDK) Announces Takeover Offer for Sunways (ETR:SWW) ]]> en71194 Y http://www.abnnewswire.net/press/en/71194/ Wed, 4 Jan 2012 12:00:51 GMT LDK Solar Co., Ltd. (NYSE:LDK), a Chinese solar company has agreed to acquire approximately 33% increased share capital in Sunways AG (ETR:SWW) of Germany for 2.2 million euros. LDK Solar has also offered to take over all outstanding shares in Sunways. Subject to regulatory approvals, the completion of the takeover offer is expected to occur in the first quarter of 2012. After the takeover, Sunways will remain a separate brand and listed on the Frankfurt Stock Exchange.

Mitsui & Co., Ltd. (TYO:8031) says that its joint venture company Galaxy NewSpring Pte. Ltd. will operate two new plants in China - a waste water treatment plant in Chongqing and a water treatment plant in Shandong Province. Galaxy will invest approximately 6 billion yen for the two new operational assets, which are expected to significantly contribute to the development of the regional community and environmental preservation.

Nomura Holdings, Inc. (TYO:8604) has reached an agreement to invest in Jiu You Quan Xing Equity Investment Fund, a private equity fund based in Shanghai. The investment follows Nomura's approval as a Qualified Foreign Limited Partner (QFLP) by the Shanghai municipal government. The QFLP program in Shanghai allows approved foreign investors to convert foreign currency into yuan and directly invest in private equity funds based in Shanghai. Nomura was the first Japanese financial institution to qualify for the program.

Diploma Group Limited (ASX:DGX) has achieved Practical Completion on its Eleven 78 development on Hay Street, West Perth. Eleven 78 is a A$75 million residential building with 128 apartments and two commercial tenancies. Titles for the 130 lots have now issued with settlements expected to commence in the first week of January 2012.

AEON Co., Ltd. (TYO:8267) says that its subsidiary, Petcity Co., Ltd. will be merging with AHB International Inc., a Japanese company which owns and operates pet retail stores and provides pet grooming services. The merger will create the largest pet service company in Japan's rapidly-growing pet beauty care and medical services market, with 165 pet retail stores, 146 pet grooming stores and 49 pet hospitals.

Qiubei Fu
Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

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<![CDATA[ Asian Activities Report for September 26, 2011: Globe Metals and Mining (ASX:GBE) Report Significant Fluorite and Rare Earths Drilling Results in Mozambique ]]> en69746 Y http://www.abnnewswire.net/press/en/69746/ Mon, 26 Sept 2011 12:00:19 GMT Globe Metals and Mining Limited (ASX:GBE) has received initial analytical results for the 2011 Main Fluorite/Rare Earths Elements Zone drilling program at the Mount Muambe Project in Mozambique. Drill intersections from initial 8 RC holes show wide, high-grade, near surface fluorite zones. Significant enrichment in heavy rare earths were also returned with HREO/TREO ratios ranging from 10% to 40%. Further drilling results are expected to flow in over the next four months. Much of the remaining drilling in 2011 will focus on pure Rare Earths Elements targets.

Siburan Resources Limited (ASX:SBU) has lodged an application for an Exploration Permit in an area prospective for tungsten and gold in the South Island of New Zealand. It is anticipated that the approval process will take between 3-5 months and the Exploration Permit is granted for a period of five years. Previous work undertaken in the area has indicated that the mineralisation continues to a significant depth of up to 180 vertical metres with potential to host a high tonnage tungsten deposit.

Metminco Limited (ASX:MNC) has commissioned drilling programmes in June 2011 comprising 16,000 metres of Reverse Circulation drilling and 12,000 metres of Diamond Drilling at the Mollacas, Vallecillo, Camaron and La Piedra projects in Chile. This drill program is expected to be completed during the first quarter 2012. The Mollacas copper project currently has a JORC compliant resource of 17 million tonnes and the Vallecillo gold zinc project has a JORC compliant resource of 10.1 million tonnes.

Wave energy developer Carnegie Wave Energy Limited (ASX:CWE) says that its next generation commercial scale CETO 4 unit has been manufactured and delivered to Reunion Island, and offshore installation is currently scheduled to take place during the Southern Hemisphere summer. Activities to date have been two-thirds funded by French Government grants.

VA Tech Wabag (BOM:533269), a leading global player in water and wastewater management, has received an EU$8 million contract for the expansion of Andermatt wastewater treatment plant in Switzerland. VA Tech Wabag will provide its innovative wastewater treatment technologies for the plant. Expansion work will commence in spring 2012 and the plant will be ready for operations at the end of 2013.

Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

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<![CDATA[ Australian Market Report of January 13: Resources Shares Dented by Alcoa Result ]]> en62056 Y http://www.abnnewswire.net/press/en/62056/ Wed, 13 Jan 2010 09:30:47 GMT Australian stocks declined yesterday on profit taking selling after US aluminium giant Alcoa reported its fourth quarter earnings result, which missed the market expectations. The resources sector drove the local shares lower. The benchmark S&P/ASX200 index closed down 51.2 points, or 1.03 per cent, at 4,899.5 points, while the broader All Ordinaries index lost 49.6 points, or one per cent, to 4,931.6 points.

Key Economic Facts and Figures

Australia's housing finance commitments for owner-occupied housing fell 5.6 per cent in November, seasonally adjusted, to 59,516, the Australian Bureau of Statistics said. It was the second successive monthly fall as first home buyers left the property market after the central bank increase interest rates and the government lowered the first home buyers grant. The median market forecast was for housing finance commitments to have fallen 0.5 per cent in November.

M&A News

Shanghai based Bright Food Group has offered to buy the sugar and renewable energy unit of CSR Ltd (ASX:CSR) for cash, sending shares of the Australian firm sharply higher on Tuesday. Chinese state-owned food producer said it has approached CSR about acquiring its sugar and renewable energy business for up to A$1.5 billion. The Australian company described Bright Food Group's statement as "merely an expression of interest and does not make any proposal capable of acceptance by CSR".

Important Corporate News

Neptune Marine Services Ltd (ASX:NMS) said it has been contracted to provide diving, survey and vessel support services on Chevron Australia's Gorgon LNG project in Western Australia. Managing director Christian Lange said the initial scope of work was very encouraging and offered the potential for further opportunities on what is Australia's largest resources development project.

Minerals Corporation Limited (ASX:MSC) signed an MOU with Zhejiang Dadongwu Group (DDW), a "Top 500" Chinese company, to supply its low carbon cement products to the greater Shanghai region in China. Subsequent to product testing by the parties in Australia and Shanghai in Q4 2009 and January 2010, a bulk production run is scheduled for later this month using the DDW blending facilities.

GUD Holdings Limited (ASX:GUD) said it expects the EBIT for the first half of 2010 fiscal year to be more than 10 per cent above the prior corresponding period. Based on trading to date, expectations are that full year underlying EBIT, before significant items, will be in the range A$64-68 million, provided that there are no adverse exchange rate, input cost or selling price movements.

Leighton Holdings (ASX:LEI) said on Tuesday that its wholly owned subsidiary John Holland has secured a 30 month mine operations contract to deliver works at Isaac Plains Coal Mine in Central Queensland, owned by a 50:50 joint venture between Vale (NYSE:VALE) and Aquila Resources (ASX:AQA). The contract is valued at approximately A$260 million.

Platinum Capital Limited (ASX:PMC) anticipates its reported operating profit before tax for the half-year ended 31 December 2009 will be between A$19 million and A$25 million. PMC reported a A$12.1 million profit before tax for the half-year ended 31 December 2008.

Michelle Liang
Asia Business News Asia Bureau
TEL: +61-2-9247-4344

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<![CDATA[ Asian Markets Overview of December 15 ]]> en61943 Y http://www.abnnewswire.net/press/en/61943/ Tue, 15 Dec 2009 13:30:07 GMT US stocks closed at 14-month highs on the news of Dubai's US$10 billion funding and a big acquisition by Exxon Mobil, which agreed to acquire XTO Energy for US$31 billion in stock.

In Asian markets, investors bought in stocks and high-yielding currencies after concerns about Dubai debt eased yesterday. The US dollar declined Monday after Abu Dhabi granted a last-minute bailout of Dubai. The euro and other more risky currencies such as the Australian, New Zealand and Canadian dollars were boosted.

Company News

Cougar Energy Limited (ASX: CXY) wishes to advise that it has executed a Memorandum of Understanding (MOU) with Direct Invest Pte Ltd, the Singapore domiciled subsidiary of the Direct Invest Group, to establish Cougar Direct Invest China Limited (CDIC) for the purpose of developing Underground Coal Gasification (UCG) projects in the People's Republic of China and in Mongolia. Dr Len Walker, Managing Director of Cougar Energy said, "The development of projects via CDIC represents a highly prospective and exciting growth opportunity for Cougar Energy as we continue to expand our coal resources and operating entities across the globe utilising the world's leading commercial UCG technology".

U.S. gold producer Newmont Mining Corp (NYSE:NEM) and a unit of Japan's Sumitomo Corp (TYO:8053) have completed the sale of a 7 percent stake in an Indonesian joint venture to a consortium for US$247 million. Newmont said in a statement that it had received about US$139 million from the sale, part of a total 14 percent share sale agreed in November. The shares were bought by a consortium of Indonesian local governments and PT Multicapital.

Singapore's Hyflux (SIN:600) said on Monday it has signed a joint venture agreement with Japan's JGC Corp (TYO:1963) to develop water projects in China. The joint venture's first project will be to expand the designed capacity of a seawater desalination plant in Tianjin, China to 150,000 cubic metres per day from the current 100,000 cubic metres per day.

Singfuel Investment Pte. Ltd., a unit of Glencore International AG, has offered to buy a 50.81% stake in Singapore's Chemoil Energy Ltd. (SIN:AV5) for a cash consideration of about US$233.28 million. Singfuel said it has entered into a share-purchase agreement with the Chandran family trust, the founders of Chemoil, a marine fuel supplier, to buy their stake in the company and has also offered to buy the remaining stake.

China Cosco Holdings Ltd. (HKG:1919) said Tuesday it expected a net loss in full year 2009 as the global financial crisis hit the shipping market and the fall in international trade pushed down freight rates. The shipping giant posted a net profit of 10.83 billion yuan in 2008.

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

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<![CDATA[ Australian Market Report of November 23: Investors Moved to Safer Haven ]]> en61792 Y http://www.abnnewswire.net/press/en/61792/ Mon, 23 Nov 2009 13:00:00 GMT US equities fell for a third straight day on Friday as Dell's disappointing earnings result dragged the US stocks lower. Energy and materials companies were weighed down after European Central Bank president Jean-Claude Trichet indicated that supportive stimulus measures must soon be unwound, prompting traders to buy US dollar.

Australian shares opened higher this morning, despite a weak lead from Wall Street. On Friday the benchmark S&P/ASX200 index ended 1.3 per cent lower, at 4685.8, while the broader All Ordinaries also eased 1.3 per cent, settled at 4706.7. The local market erased gains earlier in the week, leaving the ASX200 in a negative territory for the week, down about 0.4 per cent.

The Australian dollar opened half a cent lower as investors turned to safer haven - the US dollar. During the offshore session, the local unit traded in a broad range between $US0.9060 and $US0.9215.

Key Economic Facts and Figures

Home sales in Australia have continued their steady rise as first-time buyers rush the market before the end of first-home owners boost scheme. Auction clearance rates in Sydney reached 71 per cent over the weekend, up 6.8 percentage points from the previous week, while Melbourne clearances were up by 5.1 percentage points to 76 per cent. The first-home owners grant was reduced in September from a maximum of A$14,000 to A$10,500 for existing homes, and from A$21,000 to A$14,000 for new homes. It will be cut to the original A$7000 on New Year's Day.

Today the Australian Bureau of Statistics is to release data on sales of new motor vehicles in October. The Housing Industry Association releases its trades report for the September quarter.

M&A News

Neptune Marine Services Ltd (ASX:NMS) has completed that acquisition of Aberdeen based Submersible Technology Services (Holdings) Limited, a leading provider of remotely operated vehicle and survey support services to the offshore oil and gas industry. Neptune acquired 100 per cent of the issued capital of STS for GBP16 million with added conditional consideration based on STS's EBITDA performance for the calendar year 2009.

Important Corporate News

Building product company James Hardie Industries (ASX:JHX) said today its net loss in the three months ended September 30 was US$19.6 million. It posted a net profit of US$153.5 million a year earlier. The company says as the US residential construction market remained near historical low levels during the period. James Hardie says it will not pay an interim dividend for the half year, but its full-year earnings still should enable it to contribute to the asbestos compensation fund.

WorleyParsons (ASX:WOR) said Suncor Energy (NYSE:SU)(TSE:SU) has awarded a C$74.4 million lump sum contract for construction services to Cord WorleyParsons Ltd, the construction division of WorleyParsons Canada.

Rio Tinto (ASX:RIO) said in a statement today that it will receive total proceeds of at least US$741 million in connection with Cloud Peak Energy Inc's (NYSE:CLD) IPO on the New York Stock Exchange and related transactions. Rio Tinto retains a 48.3 percent stake in Cloud Peak.

Japan's Dai-ichi Mutual Life Insurance Company said its investment in Tower Australia Ltd (ASX:TAL) will take advantage of the Australia's higher economic and population growth and potential expansion in the insurance market. Dai-ichi bought stake in Tower in August 2008 for A$376.3 million.

Alcoa (ASX:AAI) will temporarily idle production at its two aluminium smelters in Fusina and Portovesme, Italy. This is a result of uncertainty in obtaining future power supply for the smelters at competitive rates and the financial impact of the European Commission (EC) decision that Italy's extension of the existing electricity tariff after 2005 did not comply with European Union (EU) state aid rules and that a portion of the benefit received by Alcoa must be refunded. ]]>
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<![CDATA[ Asian Markets Overview of February 19 ]]> en60159 Y http://www.abnnewswire.net/press/en/60159/ Thu, 19 Feb 2009 15:00:27 GMT
Today the Asian markets broadly opened lower with more selling after Wall Street's overnight slump.

Asia Economy Watch

Taiwan government has released its fourth-quarter gross domestic product figure, which shrank by a near 50-year record of 8.36 per cent. This was far worse than the government's previous forecast of a 1.73 per cent contraction. The government yesterday revised its 2009 GDP forecast from 2.12 per cent to -2.97 per cent. Taiwan's central bank cut interest rates by a quarter point to record lows following the release of the GDP figures.

The Bank of Japan was expected to announce moves to ease a corporate credit crisis but keep its interest rate unchanged at 0.1 percent on Thursday

Company News

Singapore water company Hyflux (SIN:600) has posted record sales and is counting on China's increased state spending on infrastructure to sustain earnings growth. The company reported a 79 per cent rise in full-year net profit.

China's Internet-search engine company Baidu Inc.(NASDAQ:BIDU) said its fourth-quarter net income rose 31% as its number of online-marketing customers surged.

It is reportedly China's Hunan Valin Iron and Steel Group, parent company of Hunan Valin Steel (SHE:000932), is poised to grab a strategic stake in Fortescue Metals Group (ASX:FMG) through an investment.

South Korea's No. 2 beer maker Oriental Brewery has drawn interest from Japan's Asahi Breweries Ltd (TYO:2502) and Kirin Holdings Co (TYO:2503) and Korea's Lotte Group, in a deal worth about US$700 million, a newspaper reported on Thursday.

Mitsubishi Motors Corp (TYO:7211) said it will cut its longstanding ties with Chrysler LLC, which is on the verge of bankruptcy.

Taiwan's Asustek Computer Inc. (TPE:2357) said yesterday its board had approved a plan to buy back up to NT$2.88 billion worth of shares on the open market to protect the interest of shareholders and the company's credibility.
Korean automaker Ssangyong Motor Co. (SEO:003620) said it may sell the assembly lines of its sport utility vehicle Rodius if it stops production of the model.

China's Nine Dragons Paper Holdings Ltd. (HKG:2689) said late Wednesday its first-half net profit plunged 69.4% from a year earlier, on falling prices for its products and high raw material costs.

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

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<![CDATA[ Australian Market Report of January 29: Market Cheer for "Bad Bank" Idea ]]> en59992 Y http://www.abnnewswire.net/press/en/59992/ Thu, 29 Jan 2009 13:00:46 GMT
Yesterday the Australian shares ended higher led by banking sector. The benchmark S&P/ASX200 share index gained 1.5%, or 51.5 points, to 3495.5 points. The broader All Ordinaries index gained 1.3%, or 42.8 points, to 3435.1.

At 0816 AEDT on the Sydney Futures Exchange, the March SPI futures index was 63 points higher at 3,531.

Key Economic Facts and Figures

Data released by Australian Bureau of Statistics showed that consumer prices fell for the first time in two years during the December quarter due to lower prices for petrol, cars, health products and financial services. The consumer price index fell 0.3% in the December quarter, the biggest drop since September 1997.

Treasurer Wayne Swan said fighting inflation was no longer the government's chief focus, but remained a high priority in terms of the government's medium-term fiscal strategy.

Latest figures from the Australian Bureau of Statistics show the annual rate of growth in rents across the country has jumped to 8.4 per cent in the year to last month, up 2 per cent from 2007.

M&A News

Cancer treatment developer Cytopia(ASX:CYT), holding a stake of less than 1% in Progen Pharmaceuticals(ASX:PGL), is leading a push to unseat the board of Progen and stop a proposed merger between Progen and Avexa(ASX:AVX), citing it was not in the interests of shareholders.

Important Corporate News

Tabcorp Holdings(ASX:TAH) says it has conditional planning approval for its A$475 million redevelopment and expansion of its Star City casino in Sydney.
Rio Tinto(ASX:RIO), rumoured to sell share to pay off $US39 billion in debt, has conceded an equity raising is one option being considered.

Santos (ASX:STO) yesterday released a reserve report showing its fifth successive annual reserve increase, taking the company's total reserves past one billion barrels. The company said the increase was driven by a boost in the company's coal seam gas reserves, along with healthy growth in its conventional reserves.

Strathfield Group (ASX:SRA), the mobile phone and electronics retailer, has been put into administration by its directors and suspended from trading on the Australian Stock Exchange after a less than satisfactory Christmas and post-Christmas trading and the worsening outlook for at least the first half of this year.

Australian Foundation Investment Company(ASX:AFI) says it has A$760 million to support its 2009 dividend payments if necessary, after it suffered a two-thirds plunge in interim profit. The company says it will be hurt by any large cuts to dividends from its A$2.7 billion worth of investments in many of Australia's largest listed companies.

Woolworths (ASX:WOW) has delivered an 8.8 per cent boost in sales for the 27 weeks to January 4, from A$23.99 billion to a record A$26.1 billion. Australia's largest retailer also gave an upbeat forecast for the year.

Oil and gas contractor Neptune Marine (ASX:NMS) has unveiled half-yearly revenue of A$97 million and forecast buoyant times ahead despite stormy economic waters and the sinking oil price.

Australian Iron Ore Miner Warwick Resources Limited (ASX:WRK) announced an initial Inferred Mineral Resource at its 100% owned Caramulla South iron ore project of 13.8 Million tonnes at over 50% Fe.

Western Plains Resources Ltd (ASX:WPG) advised that it and the Commonwealth of Australia have executed a Deed of Access, pursuant to which the Commonwealth, through the Minister for Defence, has granted formal approval for WPG to develop its Peculiar Knob DSO iron ore mine south of Cooper Pedy in South Australia.

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

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<![CDATA[ Settler's Cove Proposed Stormwater Treatment System ]]> en48856 Y http://www.abnnewswire.net/press/en/48856/ Tue, 4 Mar 2008 09:48:21 GMT
Nutrients and contaminants that continue to enter the Settler's Cove site via stormwater inflows currently disperse below the development zone into a large wet heath, ownership of which Cape Bouvard will transfer to the Noosa Community Environment Trust this year as the RF Thompson Conservation Park. On completion, the Settler's Cove Wetland area will also be vested in Council as a public park.

Cape Bouvard will bear the cost of the works, including engineering, environmental assessment, specialist supervision and landscaping, all of which will be strictly assessed and monitored by Council to its satisfaction. Cape Bouvard's funding and management of the wetland construction will allow the works to proceed earlier than otherwise contemplated by Council, and completes a treatment system that includes the upstream installation already begun by Council in accordance with its Urban Stormwater Management Strategy.

Council's agreement to partner Cape Bouvard in the Settler's Cove Wetland pending a full environmental management plan to ensure that habitat and fauna are appropriately considered in the final design was based on the obvious benefits to the community in enhancing the environmental values of a designated conservation reserve. Additional benefits include recreational and educational opportunities and removing a substantial cost burden from future infrastructure budgets.

"It is timely that a resolution has been reached to address the untreated stormwater that the site receives from a substantial urban catchment," says Settler's Cove Development Manager Gary Godfrey.

"A great deal of importance has been placed on the protection of the waterways, as evidenced by the 20 hectare environmental conservation buffer between Noosa Sound and the Settler's Cove development. The Settler's Cove Wetland is an appropriate solution to ensure a quality stormwater treatment system that maintains and enhances the environmental values of these natural features."

Of the 36 hectare site bounded by Noosa Hill, Noosa Junction and Noosa Sound purchased by Cape Bouvard in 2005, more than 23 hectares will have been donated to Council as park and conservation land by mid 2008.

ENDS

For more information contact:

Gary Godfrey
Senior Development Manager
Settler's Cove
(07) 5448 0186
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<![CDATA[ Hydrotech International Limited (ASX:HTI) To Install MPS System For Hop Yuen Construction In China ]]> en48511 Y http://www.abnnewswire.net/press/en/48511/ Fri, 22 Feb 2008 15:27:27 GMT
In addition to being awarded this contract, Hydrotech will be working closely with Hop Yuen in investigating several additional opportunities in the region.

Furthermore, the Company currently has submitted tenders on 22 projects in the United Kingdom, China and Hong Kong. These submissions have been put forward at the request of the managers/owners of the various infrastructure assets. The submissions represent work across a variety of different infrastructure assets that include a dam, railway tunnels, railway stations, the London Underground, highways tunnels, motorways, new buildings and remediation works on existing buildings.

Presently Hydrotech is surveying up to five potential projects per week across its business'. If successful on current submissions, the total revenue generated for Hydrotech would be in the region of AUD$8.5mln. Whilst it is difficult to gauge a success rate on all the submissions, at this stage it is the Company's expectation that requests for submissions are coming from asset managers that have few, if any, alternative commercial remedies to their water ingress problems.

TEL: +61-2-9225-4477
EMAIL: info@hydro-usl.com

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<![CDATA[ Neptune Marine Services Limited ASX: NMS - Successfully Completes Gulf of Mexico Repair Project - Mr Christian Lange, MD ]]> en35347 Y http://www.abnnewswire.net/press/en/35347/ Mon, 19 Feb 2007 11:25:00 GMT
The BRR service is based on streaming audio sent in compressed form over the internet and displayed as it arrives. You do not have to wait for the whole file to be downloaded before you can hear it, instead the media is sent in a continuous stream and is played immediately as it reaches your computer. Please note that during live broadcasts there can be a delay of approximately 1-2 minutes, depending on traffic through your Internet Service Provider.

Broadcaster: Neptune Marine Services Limited (ASX: NMS)

Broadcast Title: Successfully Completes Gulf of Mexico Repair Project

Broadcast Type: Audio stream

View the Audio stream for Neptune Marine Services Limited (ASX: NMS) below.

http://www.brr.com.au/event/NMS/92/19066/wmp/221.242.254.150/?

PodCast Link:
http://boardroom-pc.streamguys.us/files/NMS/NMS20070219.mp3
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